This is only for educational purpose, don't consider this as Recommendation, am not responsible for your losses/Gains.
Reasons to Trade:
a) Price is near Resistance level
b) After a long uptrend, expecting some retracement untill down the support line drawn
#powerofpriceaction #rathrolaTrades #tradingviewindia
Regardd,
Rathrola
The spike early in the month from 725 levels should have touched the targeted 850. However it reversed from 844 !
The jump came in after a bumper results.
Now it should reverse all the gains of early November.
In a downward sloping channel.
at 1550 , a very strong resistance.
Last 3 months trading in a very constricted band of 1350 - 1550.
Be careful if it trades below 1300.
One hand loses another hand gains. ;)
Channel since March bottom at 61.
RSI was overbought with last week's rise.
At 92 levels lot of froth would be out a great great opportunity to get in.
Trend line Resistance at 395
200 DMA resistance at 418
One of the poorest performers in FnO since the march 22nd bottom. RSI had a good run.
Do you need justDial when you can log into Google.com.
It will be a good technical study to have AB endorsed brands vs Nifty 50 !!
