Sheela Foam seems to have a promising uptrend now!From February 2023, SFL has started making its range between 990 to 1200's level. If we look at the pattern that it has created, it is more of a volatility contraction as it makes a higher low in the second contraction and it continues to go if you see it contracted to a smaller range from 1200 to 1061. Now the pattern looks promising as it is above the 1200 level and taking support of all the moving averages as well.
Let's see how it goes!
Sheelafoam
Sheela Foam Long indications Sheela Foam Long indications from the chart. Need to wait for it to break on the upside.
Can look it as good bounce from the Fibonacci levels. From the 78.6% levels with a good support base at 794-810.
Looking at the levels of 1300 in near term if it sustains with good volume. Also to watch out for break and then the retracement around it on the chart.
No recommendations, just my view based on the chart.