Bharat Forge - Bullish Popgun Pattern near strong S&D Area

Volume Price Analysis
Below are the findings on the basis of Volume Price Analysis on BHARATFORG

• Stock is clearly on pullback structure formation till it breaks the low of WRC "A" with at-least average volume.
  
• Once the low of WRC "A" is broken down, stock will also out form the ascending parallel channel. And it may be either for excess trade or real-broke-down.
  
• Volumes are the important pillars to give a clear hint of price activity. So, we will keep close monitoring on it in coming time.
  

For Smaller Opportunities (Day Trading Setup)

• Considering the Bullish Popgun Pattern on Daily Time fame chart, we may plan for a setup: -
  
• Entry - 462.5 above if price get sustained
  
• Resistance(S&D area) is around 472
  
• Next Strongest Resistance(S&D area) is around 487-490.
  

Note:
Whenever you study, do it with all angles, open-minded and unbiased; And considering this thought, we should also have view of: -

• Sometimes near or at Strong S&D area direction movement get halted, paused and even throw-back. Considering this, one need to be very cautions on it as it may or mayn't be that throw-back!
  
• All this information is just for knowledge purposes and not for trade.
  

Comment:

Trade Activated. Today's entry made @465