All level mentioned on chart
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Piyush Gupta
Colpal is testing the higher levels again and again and it is kind of simple breakout with no complications in it.
From the bottom is has been making higher lows and probably continue to do so.
Only thing that we have to lookout is how does it break the resistance. It needs to halt for a while before going out for next move. If it does not halt and keep going up...
based on W pattern formation
entry for buyers possible here
@ 1535-30 level
for target 1560 +
stop as comfort
supporting points
>>> RSI consistently showing bullish momentum
>>> resistance line 1535 possible break for next upmove
disclaimer - join your own study to enter trade.
After taking multiple supports, Colpal has finally breached the trendline and is now at the mercy of a minor support zone, as indicated by the smaller TL. If this trendline is broken, one can go short at 1490 and see 1470 levels to be retested again.
Taken support @ 50 Days EMA..
As per options data...new short positions have been initiated..
I will short ..if it closes below 1470 in upcoming days .
![COLPAL: Long COLPAL at PoC [Volume Profile]](https://s3.tradingview.com/5/5rsVnKsz_mid.png "Long COLPAL at PoC [Volume Profile]")
![COLPAL: [ INTRADAY ] COLPAL LONG BET](https://s3.tradingview.com/a/aMqTn3u2_mid.png "[ INTRADAY ] COLPAL LONG BET")
