Liberty has struggled to cross 152 in last 3 attempts and on every attempt a huge bearish candle forms.
Now scrip is in uptrend and this time fall near 152 has faced low volume as compared to previous falls.
Scrip was in narrow range since past few days and indicates stock was being accumulated.
THis time it could cross the 152 level & if it sustains & close...
Liberty has struggled to cross 152 in last 3 attempts and on every attempt a huge bearish candle forms.
Now scrip is in uptrend and this time fall near 152 has faced low volume as compared to previous falls.
Scrip was in narrow range since past few days and indicates stock was being accumulated.
THis time it could cross the 152 level & if it sustains & close...
Scrip is near the breakout range followed by double reversal. Anticipitaing it to reach Resistance (target) after crossing 52-week high and breakout
Volume of buying has also been on the rise..
Will trade after bullish confirmation around price range = 210-215 so as to ensure it doesn't retrace back towards crucial support levels forming triple bottom
Key Observations :
The above mentioned stocks (Bata India, Relaxo Footwears & Liberty shoes) from a Leather products category seems to have set for next leg of upward rally as all are on the verge of breakout from its short term corrective phase.
After a formation of positive candlestick pattern of last week, the stock price seems to have started sharp surge...
