Here is a tricky one for traders! Apollohospitals.
Monthly is up no doubt and previous life time high engulfed, all DZ created and respected!
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Weekly one DZ engulfed but second one sent price up, so nothing to worry, but reason to be alert! Point of Imbalance (POI) or Decision Point (DP) of engulf not a great one, but it was able to push down price. (Do we smell a Selling insti(s) around... Hmmm..)
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Result was a huge Red candle yesterday on the daily! But today the weekly DZ was able to hold and push up price causing a gap up and a Doji candle on daily. The way up was also quite compressed (CPAZ) giving an easy path to fall. Then price was held up by next DZ (inside weekly DZ). Trick situation! Should we start shorting at the good looking DZ on daily? Not yet. Look at the daily chart, we need fresh PA to tell what to do. For now just watch or ready the fishing rod
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