View on Chart: Stock chart has formed a pattern where stock has been forming a bottom near 58/60 levels and then by breaching trend line resistances, moving up by 10-15% in quick time. Today’s action to have formed a breakout candle with volumes which is a sign of possible pullback in coming days given stock sustains 58/60 band.
View on Chart: Stock chart clearly shows that, stock produced a trading bounce from its support area
and has now reached to its crucial resistance area (109-111), which is likely to decide its next action on
the cards. Move above this band can allow stock to see 116/117 levels with an immediate effect. To
have any further extension, it should breach 117 on closing basis. On the other side, failure in
breaching any of these two resistance can push stock down towards its crucial support mark 102.
