TIPSINDLTD - Weekly Chart Analysis, CMP-391.75
After breaking out of the supply zone (218-262) it went and formed a 1st base of 9 weeks and 25% range and then going further up and formed another base of 11 weeks and 20% range. Volumes are increasing too showing strength.
Now 337-344 shall act as an initial support and though it has not retested the resistance 218-262 which shall now act as main support if it dives south. Below this if it closes then our view stand invalid.
452 - 541 - 799 are the levels it shall test over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Now 337-344 shall act as an initial support and though it has not retested the resistance 218-262 which shall now act as main support if it dives south. Below this if it closes then our view stand invalid.
452 - 541 - 799 are the levels it shall test over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
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