DR REDDY LABS - 30min DECLINING - SHORT
If we look the chart the accumulation occur after the price has fallen.
The EMA 200 also started to flatten and the price was also below the 200 EMA.
In accumulation we see the price was in the range. The breakout happend on 8Jun2022.
After breakout of resistance the price was at Advancing stage. At this stage price is above 200 EMA.
Currently the price was in distribution stage and the price whip back and forth around the 200 EMA. If the Price breaks the support of the Range then it will be in Declining stage. The price will go down if it breaks the distribution stage.
We can go shorting for the next few days. Target is mentioned in chart!
The EMA 200 also started to flatten and the price was also below the 200 EMA.
In accumulation we see the price was in the range. The breakout happend on 8Jun2022.
After breakout of resistance the price was at Advancing stage. At this stage price is above 200 EMA.
Currently the price was in distribution stage and the price whip back and forth around the 200 EMA. If the Price breaks the support of the Range then it will be in Declining stage. The price will go down if it breaks the distribution stage.
We can go shorting for the next few days. Target is mentioned in chart!
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