In our last analysis, we pointed out Stock is approaching to its Resistance area & if it fails, to cross that area then again it can witness lower levels.
That analysis rewarded us quite well as stock rebounded from very near to our resistance area of 559-566 & made low of 501, which is nearly 9% profit in a short span of time.
In fact, I've marked price point also as BLUE oval where we get an additional hint from the very same technique about upcoming downside levels.
Lastly, at the lower levels, around 501 great amount of energy was generated by stock, which helped him to climb up back again.
In our further analysis, we are seeing that now again stock is approaching towards it resistance area of 541-545 where again we may see a pullback or maybe this time it can also go past above it & if that will be the case then the strategy of Buying on dips, will be good for higher levels.
It's always beneficial when we understand the underlying aim & plan of TIME & PRICE, but not only of the time.
As both always move equal to each other, but the missing thing is an application which forces both the factors at the same time in our favor for successful trades like our above analysis.
If you are Seeking such practical opportunities for your trading career, then you must have a look at our private & valuable course offerings.- Divesh
