Here's Sintex daily Chart
One simple observation one can make: The stock is not doing well and is in downtrend. A rising tide lifts all boats and is even lifting Sintex stock but optically - the stock continues to look weak.
Then, here's the next question: Is stock buy? Technically, if we go by rules, the answer is No. The rule is very simple: When stocks are in downtrend, then stocks are Avoid.
Few more questions:
1. How will we know that stock has turned around?
2. When will such stocks become BUY on dips again?
3. How can Science of stock price action concepts be applied to Sintex Chart?
4. Few More Stock Examples
The Answer: 10 Minute Video (Premium Case Study)
If you find my work interesting - I will encourage you to buy the book and access Premium Case Studies. The idea is to demonstrate live how patterns unfold and work. They succeed, they fail but the whole process is real fun. I invite you to be part of it.
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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