Bseindia
VARUN Shipping Co.LTD. Weekly TF Analysis 24/02/2021this stock seems to be passive for a while but it can be activated in some times. it is currently in an descending parallels channel where it is falling and it is trying its upper boundary. we have to wait and check the reaction on the channel bound and then decide about its Bias after some candle confirmation
there exist a Bullish Divergence with MACD which can be interpreted as a trend reversal but that also needs some more Price Action and candle pattern conformation but we can be some how optimistic about it unless there is not bad news or fundamental data against its rally
My Analysis | Provide me insights where I am Wrong ? What I have done and What I believe -->
I have analyzed this chart on the basis of supply-demand and SR lines.
I have used RSI and Parabolic SAR and I am hoping the price will not bounce from the upper level, Because this level of demand served 3-4 as demand level in previous months and most probably it will serve the Demand area Also.
Please tell me where I am wrong and provide me positive feedback.
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