As per the resistance trendline,
(1) The first target should be above 50 on a weakly time frame.
(2)If crossed and sustained, then the second target should be 100.
Line chart analysis for the weekly timeframe.
Trendline analysis.
Price has tapped into a monthly level and has reacted to it quite nicely.
On the daily two equal lows had been taken out on the way to a demand zone. as price started to break structure upside, an untapped zone at 11rs could be a potential buy.
the zone above is too risky given how much liquidity lies below it.
the zone below is already tapped as price gapped up...
Archies
pattern: Price Action
CMP: 29.5
stoploss 26.5
Target: 36.5 to 39
Note: Brking Above 40.5 open doors for Big Targets. Will Update Targets Once It Break 40.5.
Archies Ltd. engages in publishing and marketing of greeting cards and stationery products. It operates through the following segments: Greeting Cards, Stationery, Gifts, and Others. The company was founded by Anil Moolchandani in 1979 and is headquartered in New Delhi, India.
NSE
