Good accumulation in Syngene
Stock moving out of the base. The range of the base is mere 5 % , daily volumes were more than average daily volumes of the past month.
The moving averages SMA of 200,100,50 & 20 are near to each other, which shows this can turnout to be strong base. An entry point near to all SMA reduces the probability of breaking the base. I've attached link of the chart below, as all 4 indicators cannot be used in free version trading view.
drive.google.com/file/d/1RQkYJFDhyALdF5KKlypKLj5OuhepWel_/view?usp=sharing
To conclude stock might have moved in to strong hands referring to above 2 observations.
SL to be kept at Rs 545, mere 8% Risk from CMP 592
The moving averages SMA of 200,100,50 & 20 are near to each other, which shows this can turnout to be strong base. An entry point near to all SMA reduces the probability of breaking the base. I've attached link of the chart below, as all 4 indicators cannot be used in free version trading view.
drive.google.com/file/d/1RQkYJFDhyALdF5KKlypKLj5OuhepWel_/view?usp=sharing
To conclude stock might have moved in to strong hands referring to above 2 observations.
SL to be kept at Rs 545, mere 8% Risk from CMP 592
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