Key analysis:
• Stock has been forming Lower High || Lower Low formation until October 2022
• Formed a strong base by testing the same level twice and reversed with good market participation
• Made a tremendous move up until December 2023 and has been in range since then
• Interesting point to note is that the last move from range high to range low has taken a good 73 calendar days (46 trading days), however with CMP almost near to range high the move from range low to CMP has just taken 42 calendar days (29 trading days). This indicates healthy momentum with possible strong buying taking place.
• Healthy market participation is being observed every time the stock touch the range low with heavy lifting being done
• Strong money flow is being observed from March 2023 indicating good buying taking place (even during minor corrections)
• Time cycles are also in sync with the last Trough-Peak-Trough (TPT), approximately 139 calendar days
***A break out from the zone here could possible trigger a good move up ***
• Stock has been forming Lower High || Lower Low formation until October 2022
• Formed a strong base by testing the same level twice and reversed with good market participation
• Made a tremendous move up until December 2023 and has been in range since then
• Interesting point to note is that the last move from range high to range low has taken a good 73 calendar days (46 trading days), however with CMP almost near to range high the move from range low to CMP has just taken 42 calendar days (29 trading days). This indicates healthy momentum with possible strong buying taking place.
• Healthy market participation is being observed every time the stock touch the range low with heavy lifting being done
• Strong money flow is being observed from March 2023 indicating good buying taking place (even during minor corrections)
• Time cycles are also in sync with the last Trough-Peak-Trough (TPT), approximately 139 calendar days
***A break out from the zone here could possible trigger a good move up ***