Accumulated -> Breakout -> Retraced -> Possible upmove
Updated
Some of the Consumer Durables Voltas, Symphony, Orient, Prestige, Crompton etc. are in sideways or accumulation from few months while Havells , Bluestar on uptrend.
This may be a start of up move or a bounce before a downtrend.
Orient Electric accumulated for few months, gave a break out and retraces with out volumes suggest an up move. SL 215.
This may be a start of up move or a bounce before a downtrend.
Orient Electric accumulated for few months, gave a break out and retraces with out volumes suggest an up move. SL 215.
Note
Looks more like a profit booking or shake out. No volumes yet. Keeping it still SL hits.Trade closed: stop reached
SL Hit. Trade closed in loss.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.