Now a days, every stock is flying as if there is no tomorrow. In such an environment - Why Delta Corporation stock is extremely quiet. Interestingly, the stock is well placed at 200 dma - place from ideally stock zooms up.
Here's the Daily Chart
The stock is technically well poised at current levels. It should ideally hold here and bounce, but if it fails to hold 90.75, then stock will slip to Horizontal support levels of 82-83.5. Bullish traders can hope for bounce with stop loss at 90.5. Let us see what happens next..
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers