Reading Weekly Chart doesn't show many points in recent history to derive levels.
While multi year resistance , 200, was taken out two weeks back, the volume was historic high.
Price went from 200 to 300 in just 2 weeks, and third week saw retracement of 30-35%.
If retracement become deep till 50%, then it coincide with 3 year old history of 2018 weekly resistance near 248.
Prices may get tight at this level for weekly closing.
On upper side, there may be lot of supply in 280-285 band from the FOMO entry trapped there during 2nd week of the break out.
Fundamental side, the quarterly result announced after market hours of recent candle, will how it's impact on coming candle.
December-2020 Result has improvement in EBIDTA by 208% YoY , PAT by 67% YoY
This positivity in results may have positive bias on stock price during week.
While multi year resistance , 200, was taken out two weeks back, the volume was historic high.
Price went from 200 to 300 in just 2 weeks, and third week saw retracement of 30-35%.
If retracement become deep till 50%, then it coincide with 3 year old history of 2018 weekly resistance near 248.
Prices may get tight at this level for weekly closing.
On upper side, there may be lot of supply in 280-285 band from the FOMO entry trapped there during 2nd week of the break out.
Fundamental side, the quarterly result announced after market hours of recent candle, will how it's impact on coming candle.
December-2020 Result has improvement in EBIDTA by 208% YoY , PAT by 67% YoY
This positivity in results may have positive bias on stock price during week.