Naukri moved more than 15% in last few sessions after it gave good breakout of a strong resistance with volumes recently. When a stock breaks out a strong resistance level with good volume specially after some consolidation near that resistance, it usually maintains its momentum for few trading sessions. Visit previous chart in the link below.
BTC is near to the support zone and i expect some bounce back from the zone. Risk takers can now long with SL below the support zone and have first target of previous high i.e., 64850
Hello friends,
As you see the price range of 832 - 836 was a good resistance for the stock. The level was tested multiple times in past and whenever the level was broken 832 - 836 acted as support. Even yesterday the stock tested the particular point but couldn't break it. So keep an eye on the stock as its counter part Asian paints performing well.
Levels we...
The chart is of daily timeframe. We can observe that the stock has taken support from the support trendline for more than a year on multiple occassions (more than 5). Thus this support can be considered as a strong one. However a support zone or trendline which has been tested multiple times tends to break.
So what should a trader do here?
It is best to wait for...
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