Yesterday we had taken long term view of PTC for last 10 years around on monthly Chart.Now we will keep update of PTC behaviour on daily chart. Today PTC has respected bullish view by making 107.70 high and closed at 105.35.PTC had given 1.15 Rs gap up openat 105, low was 104. but not touched yesterday's close of 103.85. This trade is taken as bullish buy. It would have been more bullish if it close at top ie 107,but close st 105 is making candlestick indecesive. The lower high trend line drawn in white should be the path of PTC if 103.85is given up then 103.10 should be next lower high. Entry can be made at that point or above 106 on closing basis.
Remember this is low beta stock and need lots of patients to hold it and need to block money for longer period, If bought. Further this analysis should be consulted to your financial adviser before taking any decession. Trade with your own risk
Remember this is low beta stock and need lots of patients to hold it and need to block money for longer period, If bought. Further this analysis should be consulted to your financial adviser before taking any decession. Trade with your own risk
