APLAPOLLO - POCs EMAs and TrianglesChat markings are self explanatory.. but here is the brief summary anyways.
On hourly TF, the price has successfully trading above the 200 period EMA. In the previous instances, when it traded above 200 HEMA, it moved about 10%.
Based on the past pattern/price action, a retest of 200HEMA cant be ruled out (around 1550 levels)
Also, POCs of the previous sessions are now acting as a strong resistance (1595-1600)
1600 CE has significant writers, unless the price moves and trades above, price movement will be subdued until then. The good news is that 10% of them have covered already, if the price moves swiftly, the rest of them also will cover and thereby propel the move on the upside
if the price closes below 1540 on hourly, the GAP filling at the lows at 1400 levels cant be ruled out either.
On Daily TF, price is trading within the Triangle and can attract supply at the higher levels.
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
