India Glycols
CMP 625
Currently in Stage 4 . Near a critical level.
Near the recent low of 596 , that is also a long term support level.
If it stops there , then we can see that ot become stable, move in a range in formaing a base - Stage 1.
And once it strats crossing/closing above 40 WEMA for few weeks, we might think that correction is over.
But if it breaks and closes below 596 then next support is near 540- 61.8% retracement of whole rise from March 2020.
Weekly Chart
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors.
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