Alembic Ltd has stayed in a range for a long time now. Made a strong base and is oscillating around it. Will the stock move upward, stay neutral or break its support? I believe that breaking support is highly unlikely, and to move upward it has to satisfy the trades in the range of 120-124.
This is EUR/USD, a 1-month timeframe chart in which I have used the Ichimoku indicator.
It is always said to respect the cloud. You can see TENKAN SEN and KIJU SEN are going ahead on a single path.
It has a slight upward movement. Both the lines are below the cloud, suggesting SELL signal only if the TENKAN SEN had CROSSED KIJU SEN, but be careful when you trade...
Market at Equilibrium with perfect consolidation triangle
Next Breakout will decide the future
Good time to trade options
Greed Equates Fear
Neither higher demand pulling up prices
Nor higher supplies pushing down prices
Adam Smith - Invisible Hand
