Overall structure of Redington seems good, though in the daily time frame, there were two doji candlesticks. On Friday there was a doji with a long upper wick and on Monday there was a doji with long lower wick. That does signify some indecision after the big bull candle of last week. The critical information we get from these two candles is that we need to watch the range of 150-164, which is high low of last two candles. Any move above or below these two values can provide a good move.
Major breakout level is above swing high of 178-179 from where stock price has corrected in past on couple of ocassions.
@NNaik I don’t track GE Shipping
@Anurag_Agnihotri I don’t track redington and sona bw (?blw) fundamentally.
@Souresh_Pal You will have to ask the question related to GNPA and location of provision to some banking expert. @dd1474 might be able to provide answers.
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