JAYBARMARU - Weekly Chart Analysis, CMP-135.20
After coming out of the probable low cheat zone 95-103, it went straight to the resistance / supply zone 126-149.
It consolidated there in the zone for almost 28 weeks in 27% range and finally showing strength breaking this base and sustaining there for the 2nd week and that too on good volumes.
95-103 will be the support but now 126 shall also act as good support. So you know the drill that our view stands invalid if it closes and sustains below this on a weekly basis.
139 - 149 - 163 - 194 - 284 are the levels it can test over the long term if it stayed strong in the due course.
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.
It consolidated there in the zone for almost 28 weeks in 27% range and finally showing strength breaking this base and sustaining there for the 2nd week and that too on good volumes.
95-103 will be the support but now 126 shall also act as good support. So you know the drill that our view stands invalid if it closes and sustains below this on a weekly basis.
139 - 149 - 163 - 194 - 284 are the levels it can test over the long term if it stayed strong in the due course.
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.