Alicon Castalloy close to breaking channel resistance Alicon Castalloy has been moving in an upward channel where it has touched the upper channel couple of time. This is the third time it is trying to break the channel on the up. It can also act as a resistance so need to wait to break decisively.
Expecting some good move with next levels of resistance at 1383-1518 and more if market supports. If breakout then the retracement should give some opportunity on it. For now, It has to decisively cross the levels of 1311 and sustain for it to break else it would not be a breakout. Levels of supports from here will be bottom of the channel 1197-1106-1018.
No recommendations, Just my view based on chart pattern.
Long
