Trying to break 2 year resistance
Updated
I am watching PARAS from few weeks.
Price is moving higher compared to past months and also trying to break 2 year resistance
but failed to break resistance last week, SL hit , did not trade only watching.
Volumes did not come yet.
Two scenarios can play for price up.
1. Either some Institutions have to buy
2. 3 year lock-in ends in 2024, pre IPO investors might be trying to take it higher and sell during the lock-in date.
If price breaks higher then immediate resistance is at 832.
We do not have to trade every chart , watch how the price moves and make notes. Use this knowledge for similar setups in future.
Price is moving higher compared to past months and also trying to break 2 year resistance
but failed to break resistance last week, SL hit , did not trade only watching.
Volumes did not come yet.
Two scenarios can play for price up.
1. Either some Institutions have to buy
2. 3 year lock-in ends in 2024, pre IPO investors might be trying to take it higher and sell during the lock-in date.
If price breaks higher then immediate resistance is at 832.
We do not have to trade every chart , watch how the price moves and make notes. Use this knowledge for similar setups in future.
Note
PARAS hit immediate resistance 832 , made 838 and fall back to 799.Hopefully this sustains and moves +vely with volumes. It should reach 875 and above if volumes comes. Did not trade in this today.
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.