> hit new 1 Year High today
> daily last 3 candles with HH-HL
> daily last 3 volumes seeing decending candles
> daily closing RSI above 80,
though lower subsequent time frames
shows descending RSI values
all above tells me
that there can be profit booking possibility
lets see where it goes tomorrow
disclaimer - just an observation
The stock is trading in higher high and higher low formation.
Immediate support lies around 1220.
I expect some sort of consolidation and correction in the current zone i.e. 1220 to 1300.
It can be accumulated in dips till 1220 for higher target.
Target: 1335, 1380, 1500
SL: 1190-1200 on daily closing basis.
Look at the chart, NIFTY is already touched all time high and bank nifty to follow. November 4th it broke the accumulation range and started forming HH and HL. Momentum is too good. I thoughi it might correct today, but it is a gap-up open today and most of the day it remained within the opening range (or forming a typical day_) and closed little higher than the...