#COALINDIA #VSA Update on the 5th of August.

 My last post on this stock was on the 21^st July when the stock was making a rally on increased volume. We expected the upmove to continue. However the stock failed to sustain above the previous price rejection levels of 255.  Soon the stock was struggling around a price support level of 250.  On the 3^rd we saw a wide spread “Effort to Fall” bar on very high volume braking the last support level of 243 (Marked A on the chart). Obviously one would expect huge selling pressure on this Bar. But the next day we a wise spread up bar closing high and above the price support level (B).  Volume was still very high albeit not as high as the previous day. This Bar indicates that there was lot of buying interest in the previous bar. In the Wyckoffian terms this move (A-B) is clearly a shakeout. And the move of 17-18 July could be the secondary Test. Anyway looks like the SM is still in the process of accumulating and we need to wait  for some more time for the markup phase.

#SUNPHARMA #VSA #Stoppingvolume

 Let us have a look at the Sunpharma Chart.  The stock was going through a down Trend from March, a move which culminated on the 29^th of May (Marked A on the chart).  We saw a widespread spread bar which gapped down on ultra high volume and which closed  on the lower part of the Bar. Obviously this was not a “Stopping Volume Bar” considering the lower close.  However the next bar was a narrow spread up Bar closing above the previous close (B). The volume was also high. This bar clearly indicates that the there was a lot of buying in the previous wide spread Bar. If selling completely dominated the previous bar then the next bar would not have been up bar.  So the narrow spread Bar on the 30^th May indicated that the down trend has been capped. Then the stock moved up slowly and lethargically for the next 50 days before moving down again. Today he stock again tested the last price support level of 502. Today we saw a wide spread Bar on high volume closing on the upper side, a classical “Stopping Volume” Bar(C).  Clearly good amount of buying has come in the previous support zone. Then ideally we should see the stock travel back the last price rejection level of 578.  However we should wait for a confirmation on Monday. Good SL would be 492. 

#EDELWEISS

#EDELWEISS This stock moving into new higher level. We have been following this stock from 80s level. Today’s move was of course news driven. However the upward move is likely to continue