VAKRANGEE Accumulation Phase Explained In Very Short.NSE:VAKRANGEE
Today we will be having a look at the weekly chart of VAKRANGEE which is currently in a re accumulation zone. The main topic of this post is going to be how we can identify whether any stock is in accumulation phase or not.
So, if you can see weekly chart of VAKRANGEE I have already plotted support and resistance levels for VAKRANGEE.
Support for this stock is in area of 24-34 from where we have seeing strong buying check the points Marked with E,F,G,H I and J where you can clearly see the strong buying is happening whenever stock comes in to that area which is confirming by supporting volume at those areas.
If we look at resistance, level of 71 is good resistance for this counter but look at points A,B,C and D from where we have seen prices moving down, but wait look at volume at same levels its started drying out as prices moving down.
Both of this actions near support and resistance levels indicating that some one is buying on each deep or Accumulating VAKRANGEE and that someone will definitely be the Professional traders of so called smart money.
And last weeks up move may be final intimation of up coming uptrend in VKRANGEE because if you can see points H I J they are forming higher lows now while all three points before those were forming lower lows which indicates change in trend.
Still Level of 71 will be very important for VAKRANGEE and after that stock will shoot up nicely.
Thanks For Reading.
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