CHOLAFIN Analysis??
Updated
Observations::
the stock is continuously moving upwards...
After breaking the resistance @820 zone..A rally base rally is observed.
base @1050 is tested and moved again...
In weekly time frame the price is showing bearish...we don't enter for short now...
we have to wait for the price to break the base and gives us some pullback then only...short entry.
In Daily time frame,
support zone observed @1075...
if price tested this will be on buy side...wait for long opportunity in this zone...
the previous resistance 1140 acts as support...price again moves up...
if this not giving any pushup...a continuous fall is observed to support zone.
critical Case::
the zone @1075 acts as support, and the previous resistance acts as again resistance price fall is going to observe.
careful here.
the stock is continuously moving upwards...
After breaking the resistance @820 zone..A rally base rally is observed.
base @1050 is tested and moved again...
In weekly time frame the price is showing bearish...we don't enter for short now...
we have to wait for the price to break the base and gives us some pullback then only...short entry.
In Daily time frame,
support zone observed @1075...
if price tested this will be on buy side...wait for long opportunity in this zone...
the previous resistance 1140 acts as support...price again moves up...
if this not giving any pushup...a continuous fall is observed to support zone.
critical Case::
the zone @1075 acts as support, and the previous resistance acts as again resistance price fall is going to observe.
careful here.
Note
If we see on lower time frames,price has a trendline resistance as well.buy when trendline breaks and retest...if retest failed short upto demand zone.
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Thanks for your Support **
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