Gone below the support line. Any assessment can only be made once it closes above 49.75-51.25 in intermediate term
VAKRANGEE (Vakrangee Ltd) BUY ABOVE 47.55
Inverted Head and Shoulder is apparent on the daily chart. Breakout has already happened on the charts. Stocks has been opening gap up from past 6-7 trading days, and has reached near previous Falling gap , which could serve as possible resistance (43.30 - 50.20). Stocks looks good on higher time frame (Monthly ) as well, however reversal is still not evident...
volume profile is showing us heavy buying at lower levels. ( contact me to know more about volume profile in trading view ) see dragonfly doji candle. is it showing the trend reversal? ( please share your idea in the comments box )
if you see, every hike has been followed by a steeper decline. please think before buying, there has been no information about management change in Vakrangee.
Further downside cannot be ruled out
Vakrangee is a very good share for long term investment perspective. As it can be seen in graph that the Primary trend of the share is uptrend and EMA 20 days has been moving above EMA 50 days for a very long time.
Vakrangee can be add between 580-588 for medium term
Stock can do 575-580 buy in dips of 520-25 sl 500
Study Only.
harmonic pattern not completed. I am waiting for this pattern to complete
Sell BELOW 413 Targets : 385-371 Stoploss : Just above 435