After a Bullish Trend, it tends to consolidate for some time and again continues its prior trend.
33% , 50%, 66% retracement level, is the level in which most bounce back and continue the prior trend.
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It kind of forming a FLAG pattern to.
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Volume looks good too.
Stock made its explosive move towards 1.618 fib level 380 from wave 2 and completed 3rd wave, extension 2.618 (478) is less likely.
So fall to 0.382 or 0.5 fib levels expected in coming sessions.
Sit tight and wait for entry near 315-295 target 400 Stop loss
1. New 52 week high
2. Strong weekly candle with huge volumes
3. Strong order book
4. Defense sector in focus
One can buy partial quantity here and partial post retest if happens.
311 is resistance! if that is crossed then 345 in no time.
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
might head towards 340 and then 375!
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
The newly listed BHARAT_DYNAMICS of govt_of_india has beeen moving in a range sine its IPO in May. Currently testing the base for a Reversal or a breakdown.
