Accumulated -> Breakout -> Retraced -> Possible upmove
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.
Comment:
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.