AJMERA - Weekly Chart Analysis, CMP-509The stock after breaking out of the resistance made a new all time high and it did not sustained. Eventually it took support of 200 weekly MA and formed a round base.
Volumes went dry and we can see some accumulation done while basing with nice volume spikes during an up week.
Finally it consolidated again for 15 weeks above the previous resistance and broke out with decent volumes. It is trading above all it's key moving averages.
435 levels shall act as a good support. whereas main support is now 383-388 zone . A weekly close and follow up thereafter below these levels shall invalidate our view.
570 - 650 - 770 - 890 - 925 are the levels it can test over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
