CIEINDIA CAN GIVE STELLER RESULTS #CIEINDIA
Price has been consolidating for few weeks after the Dec quarter ended. After that, investors' confusion can be seen clearly in daily chart.
The last good move came on Jan 1 2024 with 5% and volume 1.8 million. After that, neither the high of that candle has broken nor the lows are taken.
It clearly suggests one thing - investors are waiting for the result of quarter ended on Dec 2023.
Weekly chart shows strong support above the 50DMA. Volumes are also dried up.
However, it needs a good closing on daily chart. Today is it's earning day and my expectations say it has maintained a positive growth on revenue as well as in profit. EBITDA might cross 12% QoQ.
Once the setup looks good on daily chart I'll enter with 30% capital. Rest will keep adding as per my risk management system. Until then, only watching closely.
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