Keep Eyes On JUSTDIAL. Little Story of False Breakouts.
JUSTDIALJust dial was been in a consolidation phase for a long enough time between the price range of 318-824. On 1st March 2021 weekly chart we did managed to see false breakout to the level of 824, result of which we see down move from there towards 717 and we have seen good reversal confirming support of 717 on 17th May 2021 weekly candle.
After week of 17th May 2021 we did see some good upside momentum in Just Dial till 1047. And once again a good rejection candle on a week 14th June 2021 at the level of 1047 which form a solid wick indicating one more false breakout. But now price did not fall as much as we seen after a false breakout of 1st March 2021, and this indicates less sellers or now participants are not interested to go short in Just Dial. Result of which we see strong bullish candle with good efforts in a last week (05th July 2021).
After kind of painful movement there will be hardly anyone who can keep blind faith in Just Dial or at least no one will expect steady trend in this counter. But as mention previously, its seems there is not enough supply in this counter for now.
Short to long term players can consider this counter for targets of 1286, 1426 and 1627 with SL below 700.
|| Hari Om ||
|| Ambdnya ||
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