CASTROLINDIA looks like a promising reversal at this moment. We Initially, predicted an up move on 13th Yet, it gap down violently below the demand zone and just recovered from the bottom without any volume
Such a recovery without any volume tells us that there are no selling pressure in the market and this is just a mark down from long term buyers after accumulation.
Stock may accumulate a still and rise steadily up.
1) Previous zone of demand
2) 14th mark down by sellers
3) Look at the extremely huge volume failing to bring the stock down, instead it just went up.
What all these say ? Simple end of down move.
Lets see whether we have picked the bottom or not .. Happy Trading.
Such a recovery without any volume tells us that there are no selling pressure in the market and this is just a mark down from long term buyers after accumulation.
Stock may accumulate a still and rise steadily up.
1) Previous zone of demand
2) 14th mark down by sellers
3) Look at the extremely huge volume failing to bring the stock down, instead it just went up.
What all these say ? Simple end of down move.
Lets see whether we have picked the bottom or not .. Happy Trading.