Graphite India – 14.02.2018.

Daily Sentiment: Bearish.

Weekly Sentiment: Bullish.

Trend Strength: Moderate

First Target: 389 (Support zone)

Stock needs to close above channel and previous highs otherwise massive correction is possible.

Let’s see what will happen inside first Resistance zone and below channel resistance.

Bearish candlestick patterns would be first signals that fall is coming.

If stock is able to clear channel resistance, it will give some air for bulls to breath.

But only close above highs can confirm further rise.

There are few other supports in the middle of channel but if ‘Titanic’ starts to sink they won’t hold. That is reason why I haven’t highlighted them.

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