Colpal - Showing strength | See price reaction at 1430 and 1470
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Colpal has been showing strength for the past 2 days and also there is volume support in the move up, which is a good sign.
The 1430 region has acted as previous resistance and is also the Monthly high.
If it manages to get above 1430 with strength, it can show momentum up to 1465-1475 (previous swing levels) and even higher.
Wait for the level to break before going long.
Watch out for price rejections in the mentioned zones. If that happens, then we can see a good short setup.
Keep an eye on Nifty and BankNifty and trade with proper SL and risk management.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“Pain + Reflection = Progress” – Ray Dalio
Before you start reading kindly hit that like button. It motivates me to keep doing such work for free.
Thanks
Colpal has been showing strength for the past 2 days and also there is volume support in the move up, which is a good sign.
The 1430 region has acted as previous resistance and is also the Monthly high.
If it manages to get above 1430 with strength, it can show momentum up to 1465-1475 (previous swing levels) and even higher.
Wait for the level to break before going long.
Watch out for price rejections in the mentioned zones. If that happens, then we can see a good short setup.
Keep an eye on Nifty and BankNifty and trade with proper SL and risk management.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“Pain + Reflection = Progress” – Ray Dalio