The stock is in a bullish trend and is forming a box consolidation and break outs.
On the weekly charts the stock is trading around the resistance zone and there are chance of either breaking out or retesting to the lower levels.
Stock seems strong bullish on the charts but indicators are suggesting a bearish move as the stock is around the resistance zone.
Short sell can be initiated in the stock with a strict SL.
On the bullish side the stock is respecting the monthly 20 EMA and has retested it thrice. Radico if turns bearish can be entered around the moving average as Good R:R in the trade can be seen.
Even on the weekly charts, the stock is trading above the moving averages chance of a retest are there but short sell the stock once the support zone in taken out.
Watch the stock a good ROI can be generated in the stock after the break out the stock will be forming new ATHs.
Wait for a pattern near the resistance either for a bearish or bullish move as it is trading around the crucial recent high levels of 2600-2680.
Stochastic indicator on the Monthly TF is trading in overbought zone while on the weekly TF its showing some bearish divergence. Even the monthly RSI is showing a bearish divergence.
Wait for the price action and trade accordingly.
On the weekly charts the stock is trading around the resistance zone and there are chance of either breaking out or retesting to the lower levels.
Stock seems strong bullish on the charts but indicators are suggesting a bearish move as the stock is around the resistance zone.
Short sell can be initiated in the stock with a strict SL.
On the bullish side the stock is respecting the monthly 20 EMA and has retested it thrice. Radico if turns bearish can be entered around the moving average as Good R:R in the trade can be seen.
Even on the weekly charts, the stock is trading above the moving averages chance of a retest are there but short sell the stock once the support zone in taken out.
Watch the stock a good ROI can be generated in the stock after the break out the stock will be forming new ATHs.
Wait for a pattern near the resistance either for a bearish or bullish move as it is trading around the crucial recent high levels of 2600-2680.
Stochastic indicator on the Monthly TF is trading in overbought zone while on the weekly TF its showing some bearish divergence. Even the monthly RSI is showing a bearish divergence.
Wait for the price action and trade accordingly.
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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.
Related publications
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.