NAZARA: Retested Mid PC support leading to Breakout
Updated
Another wonderful thing about the Parallel Channel
The candles of NAZARA have created exact same Parallel Channels in triple!
The Parallel channels in the chart namely PC-A, PC-B & PC-C are exactly of the same width and slope!
#WondersOfPC
Analysis of PC:
-Currently, the candle has taken support at Midline of PC-C at 650 levels
-Opening above the level of 659 will strongly support move till the upper line of PC-C in near days, i.e. level of 755
-And if we get a strong breakout (expecting one) at the upper line of PC-C, we can expect the next target to be 950
Other supporting indicators:
RSI: +ve divergence between P1 & P2 and is near at level of 60
RS: bullish as above 0
Volume: High buying volumes from P2 levels, and accumulated from there
The candles of NAZARA have created exact same Parallel Channels in triple!
The Parallel channels in the chart namely PC-A, PC-B & PC-C are exactly of the same width and slope!
#WondersOfPC
Analysis of PC:
-Currently, the candle has taken support at Midline of PC-C at 650 levels
-Opening above the level of 659 will strongly support move till the upper line of PC-C in near days, i.e. level of 755
-And if we get a strong breakout (expecting one) at the upper line of PC-C, we can expect the next target to be 950
Other supporting indicators:
RSI: +ve divergence between P1 & P2 and is near at level of 60
RS: bullish as above 0
Volume: High buying volumes from P2 levels, and accumulated from there
Trade active
Today's strong candle is confirming the strength in the PC we draw.The midline of the PC at 655 gave support yesterday.
PC strength is high, view is stronger for breakout at 760 levels and upcoming target of 880 and then 950.
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