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Crossed resistance today. Support at 400, target intermediate term 500
we can see price gets strong resistance of KAMA line.
can go short .
It appears that Avanti feeds is forming a descending triangle patternhttps://www.tradingview.com/x/z3e7j4wj/
AVANTI looks highly overstretched. Buying at this levels not recommended. A close below 340 on weekly charts can trigger a fall which can be very string and fast.
Wait for 180-220 levels and after that lets take a decision wether to buy or avoid.
Stock made exact double bottom with Divergence
440 seems to be support likely to hold. If it holds, we may see 512 in next 21 days.
There is clear down trend in Avanti feeds and every rally is used as opportunity for exiting.
Levels marked on chart
1. This is an up trending stock
2. Formed a good cup like structure at the demand zone from where the stock has moved up significantly
3. This is a good are to re-enter in to the trade
AVANTI Feeds channel (study purpose only)
Avanti Feeds is currently trading in the lower half of the rising channel and bulls need to be careful at CMP (2540+) and accumulate only on dips until the channel bottom.