However, if we get into the detailed price action with precisely picking points of 'Volume imbalance' 'liquidity flows' 'Buy side and Sell side' we can then identify precisely points to book profits or to go long or short on the trade. We see supports at Rs.201 and resistance at Rs.309 From there on, price found resistance just below 'mean' the 45⁰ angle (a profit booking handle) and once again retesting the the ascending support zone towards the Rs.199.65 handle) although the price action ensures that the formation finally identified during the first few Months After November '20, precisely during the Month of April '21 remains intact and has not broken out of the range which is support, mean reversion, and resistance. Here, from the 'Daily' we notice that the *stock has found support at the linear ascending channel of the *formation which was an area to buy (1st November at Rs.189.30) where price is in conjunction with both the 'imbalance' marked in 'purple rectangle' and the support of the rising broadening wedge. Therefore each timeframe elaborates the holding period for investors and for traders who would look to take advantage of the technical information to draw upon a steady graph / rather than a portfolio which looks like a ~ 'tilde' which is approximately equal as to holding the stock itself. Attached along with this are images of the Daily, chart narrowing down to the 1 hour chart to follow price action with hairsplitting accuracy. #MindaCorporation has been forming a *'Rising broadening wedge' formation since the beginning of November '20, a pattern which trends along to the upside with a broadening range bound price hence increasing volatility in price as Months go by, this formation has an equilibrium price which is 45⁰ angle.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |