ONWARDTEC short term analysis
Updated
ONWARDTECH hourly chart is shown in the idea.
As per the chart shown above, ONWARDTEC is continuously making new higher highs and higher lows. This stock is taking trendline support which is marked in green from last few weeks.
currently, the stock is consolidating in a range from 480 to 530, to formed a selling zone at around 520 to 530 levels, and buying zone at around 488 to 480.
for decisive breakout or breakdown the stock has to break the levels on either side for the short term targets marked in the dashed lines on both sides.
Disclaimer: This idea is only for educational purpose and not a personal recommendation please follow your setup and own research before initiating any trade.
As per the chart shown above, ONWARDTEC is continuously making new higher highs and higher lows. This stock is taking trendline support which is marked in green from last few weeks.
currently, the stock is consolidating in a range from 480 to 530, to formed a selling zone at around 520 to 530 levels, and buying zone at around 488 to 480.
for decisive breakout or breakdown the stock has to break the levels on either side for the short term targets marked in the dashed lines on both sides.
Disclaimer: This idea is only for educational purpose and not a personal recommendation please follow your setup and own research before initiating any trade.
Note
breakdown from trendline and currently trading in the support region, Keep an Eye.Note
Keep it on radar...!Note
bounced back after consolidating at the suggested support. safe opportunity for long with a small stoploss can be above 532. till then wait patiently.
Note
Rangebound, formation of box pattern can be seen.Trade closed: target reached
Target achieved !!Note
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