The stock has beautiful set up for both long and short trade. The chart clearly indicate that stock trying hard to give break multiyear resistance.
In day time frame it look like breakout but if you analyse in multiple time frame of 2hrs and 15min, the stock rejected at level of Rs.138 i.e. resistance level.
There is spark in volume and RSI in positive but it may be a trap, next few session will provide a clear picture of stock direction.
Keep a close watch, trade after analysis in multiple time frame as stock is candidate of both long (Target Rs.152) and short trade (Target Rs.120).
!!Learn and trade!!
In day time frame it look like breakout but if you analyse in multiple time frame of 2hrs and 15min, the stock rejected at level of Rs.138 i.e. resistance level.
There is spark in volume and RSI in positive but it may be a trap, next few session will provide a clear picture of stock direction.
Keep a close watch, trade after analysis in multiple time frame as stock is candidate of both long (Target Rs.152) and short trade (Target Rs.120).
!!Learn and trade!!
