1. Promoter Holding up - 65.93% ---> 74%
2. DII and FII holding up by a negligible amount
3. Reduced Retail holding - 25% ---> 16.4%
4. Price at a Breakout Level - Since 2019
5. Stock Rallied over 80% in the last 6 months
6. The Psy. Resistance of 1500 sits immediately at the breakout area.
7. Potential immediate resistance zone
The price action will be interesting in the near term.
We would proceed with caution. What do you expect?? 🤷♂️
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⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
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What we meant by a trap !Note
Observe how the trap worked. If you were in the long after the initial breakout, your stop loss would have been below the previous resistance zone expecting it would turn support. Price swept the SL and rebounded.Note
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Crucial:Note
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Disclaimer
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🎯 You can now access our personal charts for all Nifty 500 companies📈
👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
#BeYourOwnAnalyst
👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
#BeYourOwnAnalyst
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.