Stocks develop a behavior of their own and one can notice it by watching charts. Rallis India has done something very interesting post its breakout above 180.
Here's the weekly Chart
As you can see in the chart above: Rallis India stock has built a solid base at 205 over last 1.5 years. The stock behavior is now very well defined...every decline to 205 results in bounce to 255. Will that happen again? We will wait and see.
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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