Neyvelli Lignite followup

I am happy that I had identified the Flag earlier and it worked out fine while the target given by me was 69 which should have been 68 (Lesson learnt).

Now that you can see that after breaking the flag the Stock rose till 67.95.
Revisiting this chart now throws some more light. It shows that there have been good volume peaks on the days when the candles are while (ie the stock rose). This is really good sign of buying interest in the stock. I expect it to break 68 level in style while the last two days low of 65 would act as good support hence I think we need to keep the Stop Loss at 64.90.

No comments: