After 3 contractions over a period of almost 3 months , price is up above the resistance zone which was also coinciding with the price around 200 MA.
EPS has also increased for the past 4 quarters.
Indian Energy Exchange has come out of a volatility contraction pattern with 3 contractions over the period of almost 9 months.
The low volume on bounce back of close to 4% from resistance level on 31 August is implying very less supply and more demand.
It has formed an inverse head and shoulder under the 200 day MA and managed to cross the the 200 day MA in a healthy uptrend with above average volumes on up days.
