NSE:HDFCLIFE Watch the price action at breakout level and take a trade. It might reverse from here as well.. Take a trade after it sustains the breakout.. keep it in radar..
Note: This is my personal view and I may go wrong.
If NSE:LAURUSLABS doesn't breakout & sustain above 304, expect a decline to 253 levels & more maybe.
Also, price had formed a Triple Top previously & fell from those levels to 250-260 range.
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Liberty has struggled to cross 152 in last 3 attempts and on every attempt a huge bearish candle forms.
Now scrip is in uptrend and this time fall near 152 has faced low volume as compared to previous falls.
Scrip was in narrow range since past few days and indicates stock was being accumulated.
THis time it could cross the 152 level & if it sustains & close...
Liberty has struggled to cross 152 in last 3 attempts and on every attempt a huge bearish candle forms.
Now scrip is in uptrend and this time fall near 152 has faced low volume as compared to previous falls.
Scrip was in narrow range since past few days and indicates stock was being accumulated.
THis time it could cross the 152 level & if it sustains & close...
1. facing Strong Resistance near 600 levels, made a Triple top formation on this level.
2. Strong support on 500, crashed post breaking this support.
3. Now price is swinging in a parallel channel, Bottom of the channel is acting as a new dynamic support line.
4. A new supply zone near 467-470 levels. Minor resistance on these levels.
Positions:
Enter above...
Hindalco has formed a triple top pattern and also double top in the lower timeframe and it is looking for a downside breakout. Can sell on every rise. Do watch for price action before taking the trade.
Please Note - All the green lines mean the support zone/demand zone
and all the red lines mean the resistance zone/supply zone.
It looks like it forms a triple top pattern formation which is a reversal pattern. On 16th july the stock opened gap up higher but then retraced back near to 15th july price. For sure market participants are indecisive in this stock. Trade cautiously near support and resistance levels drawn and place your targets and stop loss accordingly. The stock looks week but...
