Paytm - Time to go long ?
1. The channel looks like a case of long term order building to me.
Scenario 1: If the seller at 760 can break the channel and close below, then the setup is invalid
Scenario 2 : If the buying pressure can close above the seller at 760 at day level, then there is a solid case for longs.
Note, the Price volume at 600 is the mode of the histogram, maybe a fair value to buy paytm ?
BTW, why would there be a rally for paytm ? Need to check fundamentals.
Scenario 1: If the seller at 760 can break the channel and close below, then the setup is invalid
Scenario 2 : If the buying pressure can close above the seller at 760 at day level, then there is a solid case for longs.
Note, the Price volume at 600 is the mode of the histogram, maybe a fair value to buy paytm ?
BTW, why would there be a rally for paytm ? Need to check fundamentals.
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