Watch the breakout zone carefuliy
Fib- The retracement to 38.2% of the immediate swing is strength. The stock is back to the breakout zone which is the support now.
Candlestick - The first candle is the only strong candle post the support at 2517. Rest are very weak candles. Hence I will want to see one more strong candle above 2583 to say the strength still exits.
Conclusion- Since there is a bear candle a close below 2583 will make the trend weak. A strong hrly candle above 2583 will continue the run. In my view tomorrow can be an imp day to gauge the trend of the mkt for next 10-15 days.
Candlestick - The first candle is the only strong candle post the support at 2517. Rest are very weak candles. Hence I will want to see one more strong candle above 2583 to say the strength still exits.
Conclusion- Since there is a bear candle a close below 2583 will make the trend weak. A strong hrly candle above 2583 will continue the run. In my view tomorrow can be an imp day to gauge the trend of the mkt for next 10-15 days.
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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.