For the sake of simplicity and understanding of each one of us, on the monthly chart of the commodity, I have drawn just two parallel lines in white and green between 75 and 76.88. The stock; though commodity is trading below 200 SMA yet showed its bullishness in the last week and traded from 72 to almost 77 and now trading back above 76. In terms of INR 6400 is a Gann Number and if the stock starts trading above this, nothing to worry at all.
It seems gaining its monthly level again and turning bullish again.
Commodity is in oversold zone as per William's %R.
Today's time candles are 11-24-23 4:25 AM
11-24-23 8:51 AM
11-24-23 1:17 PM
11-24-23 5:43 PM
11-24-23 10:08 PM
Out of these, the pivotal candle is 11-24-23 8:51 AM. Buy, above high of this and sell below.
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Disclaimer: I am not a Registered Analyst with any National/International Regulatory Agency. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses. This is only for educational purposes.
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