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How to Trade Congestion Zone : LT
#LT
- From 29th Nov'21 to 17 Jan'22: stock was in Up-Trend.
- On 18th Jan'22 a sharp selling has been witnessed with lower volumes (Bearish Engulfing Pattern).
- But on preceding day(i.e. 19 Jan'22) a DOJI is formed which is a clear signal of "Confusion" in market sentiments.
- And after that it results in Down Trend in future term, which last long up to 7th March'22.
- During Down-Trend Bulls tried 4 times to take the stock price on upside but failed every time. Now, on 5th attempt BULLs become successful and take it's price to 1804.
- Now, On 21 Mar'22, history repeats itself, again a Bearish Engulfing pattern had been formed. But this instead of getting down , the stock starts trading in "Consolidation Zone".
- Last Trading Session: Stock price once again tried to came out of the congestion zone with good volumes & It shows strength in Price.
- In near term Targets could be 1809/1850(Golden Ratio Level) & SL 1752.
- From 29th Nov'21 to 17 Jan'22: stock was in Up-Trend.
- On 18th Jan'22 a sharp selling has been witnessed with lower volumes (Bearish Engulfing Pattern).
- But on preceding day(i.e. 19 Jan'22) a DOJI is formed which is a clear signal of "Confusion" in market sentiments.
- And after that it results in Down Trend in future term, which last long up to 7th March'22.
- During Down-Trend Bulls tried 4 times to take the stock price on upside but failed every time. Now, on 5th attempt BULLs become successful and take it's price to 1804.
- Now, On 21 Mar'22, history repeats itself, again a Bearish Engulfing pattern had been formed. But this instead of getting down , the stock starts trading in "Consolidation Zone".
- Last Trading Session: Stock price once again tried to came out of the congestion zone with good volumes & It shows strength in Price.
- In near term Targets could be 1809/1850(Golden Ratio Level) & SL 1752.
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