I tried my best to plot things clearly on chart. Still let me try to explain as much I could:-
Level marked with red zone was a support when price was and once price broke down it started acting as resistance.
Price has already touched this resistance quite a few times in a span of around 11 months.
Finally price is not going down and sticking to the resistance levels (marked as a box) which can lead to a breakout as people are now not willing to offload their quantities.
Two targets are also placed with two green markers . People can go for the targets as per their holding apatite and returns.
Remember bigger the target is longer the time it will take.
Cheers and Happy Trading.
Disclaimer:- I am not SEBI registered. Trade with your own risk and trade with caution.
Level marked with red zone was a support when price was and once price broke down it started acting as resistance.
Price has already touched this resistance quite a few times in a span of around 11 months.
Finally price is not going down and sticking to the resistance levels (marked as a box) which can lead to a breakout as people are now not willing to offload their quantities.
Two targets are also placed with two green markers . People can go for the targets as per their holding apatite and returns.
Remember bigger the target is longer the time it will take.
Cheers and Happy Trading.
Disclaimer:- I am not SEBI registered. Trade with your own risk and trade with caution.
