After a long down trend Pharma sector finally took support at weekly demand which was create just prior to breaking previous ATH and was reaction to few fresh orders left at supply zone. The demand to which price reversed is flag pattern and authentic level.
Cup and handle completed also retest twice done sign of supply dry up and broke out of TR range ...
smart money accumplated seems markup phase started .....
NSE:ADANIPORTS
Buy At 370 or above
SL - 357 or 1% of your money with proper position sizing.
Reason for the trade: 3 months of accumulation and for the first time price has closed above the green line, hence ready to move out the value area and into markup phase.
Volume was high today meaning big money has already enter and are ready to take the price...
NSE:KTKBANK
(For Learning Purpose)
Currently trading in Wyckoff's Phase 1 (Accumulation)
Test of supply happened and price started to move up with expanding volume
We can clearly see volume expansion when price moves up and volume contraction when price moves down or trading in range
Price might move down to ₹40 - ₹42 range before starting to move...
Learning how to mark up my charts by finding higher highs and lower lows and trying to find a trend. Please look at it and give me some feedback!! always learn from others!
It has been observed in the chart that NIITTECH given break out at 447.5. volume also picked up and bounce from 200day MA. watch near 440/448 for target 530/580 stop loss below 420.
