Reasons/Traits : • Gave a huge breakout but with a huge wick • Volumes are very high • Todays close is near to recent lower high • Price above 13/20 and touched 200 EMA • Price near VWAP • High deliveries
What can happen next : Scenario 1 : Price sustaining above 215 levels can take it to 240/260/280/300 levels Scenario 2 : Price break down below 195 can take it down to 180/165/155 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
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