on break above the pole & flag will meet 220
Now at support ,will not be of any use if the results are bad.
Here the current price155 and previous pivot is around 140,or if you are talking about last two days candle,
we can use it for candle stick pattern. That could consider as a piercing line, but doesn’t qualify
since the second day bottom is not fully covering the shadow of first day.
MCX my view is posted in mcx thread. it may find support before 725. let us watch how the accumulation phase will set in.
that is today's development.. hee
Technically may be due to the break of long term trend line, or may be a strong resistance at falling channel, or even may be a failed golden cross,reasons are plenty.
The fundamental reason was very much discussed in media on those days in mid August, about a weak Q1 results. So it was assumed that unless Sangvi shows a good result it cannot improve. But by the time the news comes out, the price will discount/adjust to that value.
My question is, will technicals prevail over weak fundamentals ? even if technical prevails will it be able to move 40 - 50 % from current levels to 195/- given the future outlook is grim.
As I am planning to invest some for the period of 6 - 12 months, so I am searching for the stocks which look promising.