Ambika cotton Long indication
Chart had been in consolidation phase since more than an year after the down move. Current moment it's showing some volume and had bounced multiple times from the base level of 1370. Support levels of 1201 if it breaks. If we get some good volume and momentum then the levels I see is 1698 - 1746 - 1848.
Levels of 1848 would act as a resistance and might stop here for quite some time if it reaches there. Black line was once touched and in the next time it would resist there.
No recommendations, It's just for learning based on the chart pattern.
Chart had been in consolidation phase since more than an year after the down move. Current moment it's showing some volume and had bounced multiple times from the base level of 1370. Support levels of 1201 if it breaks. If we get some good volume and momentum then the levels I see is 1698 - 1746 - 1848.
Levels of 1848 would act as a resistance and might stop here for quite some time if it reaches there. Black line was once touched and in the next time it would resist there.
No recommendations, It's just for learning based on the chart pattern.