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We are a technical analysis education group
Providing basic education to new students and stock market traders
Telegram.me/theswingcatch
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If you know how to read charts
Then you can see some stocks are not able to move up or down a certain price range
It's main reason is some large no of position have been created in buy or sell side and those people aren't willing to let go off their position
So they defend the up...
@rohitkumar78 learn technical analysis
In very simple terms
When there is some kind of demand surrounding the company may be its current market or products and services or its future prospects
People feel they should invest in said stock so buyers start to accumulate at a given price aka demand zone
On the chart it is...
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You are right it can take support here
Because of falling crude prices
But it's possible it may break down the support also
Which is only possible in drastic situations
If support breaks huge fall can happen
So it's always better to buy a little bit expensive after conformation ...