Nice work done by the herd following this post! Disgusting!!!:annoyed:
Anyways, technically, this is a straight climb from 50 till 113.9. Except for occasional minute hiccups, there has been no correction seen in the stock price movement.
Yesterday's struggle to move higher, indicated by doji, can be seen as a clear signal that the price rise has been arrested.
Technical Indicators: Reading the daily charts.
Ichimoku indicators:
- Chikou Span support seen at 100.3 (Brown square)
- Tenken sen seen at 99.1 (Green square)
- Forward cloud range at 81 to 90
315 Correction Strategy:
- 15 ema not touched since a long time, and price stands at 96.2. (Purple square)
So we can see a correction in this stock till 100 if this rise is genuine as a result of profit booking. It should be noted that the rise in call charges has been already factored in the rise from 50 to 113.9, so there has to be profit booking.