VINATI ORGANICS retesting breakout levels - MONTHLY CHART
This analysis is purely based on price action.
As can be seen in weekly or monthly charts, 1200 level was acting as major resistance for the share price for several months. In the month of September, it gave major breakout from that level with increased volume. Now the price has come down to retest the breakout level which can act as major support now for price to show reversal.
This is not a trade recommendation. Traders can put this stock in their watchlist and trade or invest as per their plan (on monthly/weekly/daily charts) and risk-management.
Feel free to comment for any query or suggestion.
As can be seen in weekly or monthly charts, 1200 level was acting as major resistance for the share price for several months. In the month of September, it gave major breakout from that level with increased volume. Now the price has come down to retest the breakout level which can act as major support now for price to show reversal.
This is not a trade recommendation. Traders can put this stock in their watchlist and trade or invest as per their plan (on monthly/weekly/daily charts) and risk-management.
Feel free to comment for any query or suggestion.
