Hi flocks ,
Let me explain one interesting fact about this kind of segments , Many are not aware how this kind of segment moves in the equity/derivatives
Commodity backed scrip behave almost alike a commodity segments in the Metals and Minerals , Commodity can never make an progressing impulsive movement like how
other segments of equity do , so the scrips usually end up in side way correction , the logic is commodity like steel , copper , nickel the price variation can not be aggressive
due to its merchandise value , they can not run in the prices and can become monopoly so in order to remain in the market consumption these metals remain at best prices
the same is true for equity backed by such metal industries , equity of such company mostly follow the price of commodity market ,
So expect the prices to move up and as analyst its my responsibility to explain basic concept here , not only reading price moves
One can look for daily reversal in order to jump on it and its going up my friends
Good luck
Let me explain one interesting fact about this kind of segments , Many are not aware how this kind of segment moves in the equity/derivatives
Commodity backed scrip behave almost alike a commodity segments in the Metals and Minerals , Commodity can never make an progressing impulsive movement like how
other segments of equity do , so the scrips usually end up in side way correction , the logic is commodity like steel , copper , nickel the price variation can not be aggressive
due to its merchandise value , they can not run in the prices and can become monopoly so in order to remain in the market consumption these metals remain at best prices
the same is true for equity backed by such metal industries , equity of such company mostly follow the price of commodity market ,
So expect the prices to move up and as analyst its my responsibility to explain basic concept here , not only reading price moves
One can look for daily reversal in order to jump on it and its going up my friends
Good luck
Trade active
Comment:
Yeeeeeeeeeeeeeee haaaaaaaaaaa , Now you see it move so fast , we have booked 2 lots in Futures today , you can expect small pull back on day or two
Comment:
Now i am updating this you can have a look of the strength of market , its we call as Continuation pattern
any correction in the current price move one can look for entering only when they reversal on 1 hour for bullish buy set up ,
any correction in the current price move one can look for entering only when they reversal on 1 hour for bullish buy set up ,
But most of others thinking its going down ,