STAR Low Risk set up, Good levels to accumulate for long term.
Mark Down Phase
Stock gave a major breakdown around 800 levels and came down till the supports of 2012-14 Base.
Accumulation Phase
During 2012-14 stock formed small consolidation and gave a breakout. Now in March 2020 Fall the stock took exact support at that small consolidation in 2012-14. here stock consolidated with volumes. Exactly after the breakout in September 2020 volumes reduced. This is the accumulation phase, that lasted from April 2018 till September 2020 (Price Range 520-300).
Markup Phase
Stock gave a beautiful breakout out of the the accumulation phase & entered the mark up phase. Currently the stock is in mark up phase only.
Plan of action.
As the Stock is in Mark up phase the up move is expected to continued. Stock now consolidating above 800 which was a major breakdown level after the up move. As it is just above the supports with comparative lower volumes than the up-move, Expecting stock will move further and the volumes will return. As Stop loss at 690 below current consolidation will be ideal.
Stock gave a major breakdown around 800 levels and came down till the supports of 2012-14 Base.
Accumulation Phase
During 2012-14 stock formed small consolidation and gave a breakout. Now in March 2020 Fall the stock took exact support at that small consolidation in 2012-14. here stock consolidated with volumes. Exactly after the breakout in September 2020 volumes reduced. This is the accumulation phase, that lasted from April 2018 till September 2020 (Price Range 520-300).
Markup Phase
Stock gave a beautiful breakout out of the the accumulation phase & entered the mark up phase. Currently the stock is in mark up phase only.
Plan of action.
As the Stock is in Mark up phase the up move is expected to continued. Stock now consolidating above 800 which was a major breakdown level after the up move. As it is just above the supports with comparative lower volumes than the up-move, Expecting stock will move further and the volumes will return. As Stop loss at 690 below current consolidation will be ideal.