There is lot of twists herein:
By the looking left to right , while breaking out the price Congestion we have seen Invalid breakout in price. That why price suddenly fall.
Bullish forget of 3 candles was completely perfec t but, again we have seen valid heavy volume candle ...! Something is cooking in this stock.
Let look more closer to the 4hrs...
It has been observed that the price action trending down since one year from 180 to 140 levels. Now, it is breaking above the downward trendline indicating a bullish and a strong move ahead.
It is been observed on the daily chart that the price action formed an exhaustion candle on the crucial support levels indicating a strong buyers coming back in the market. Now, it shall further move up.
Equitas Holdings is trending along with long term support line. I expect this stock to take support at the trend line once again and move upside. Close above 186 will make the stock to move faster. Hidden bullish divergence in RSI indicates the stock will have uptrend in coming days. Hidden bullish divergence happens when price is making a higher low (HL), but the...
Equitas Holdings Ltd. is a non-deposit taking, core investment company. It operates through the Banking and Finance and Others segments. The company was founded by P. N. Vasudevan on June 22, 2007 and is headquartered in Chennai, India.