GreenPanel
CMP 270
We have been posting about it from the levels of 400.
As projected earlier, it came down near 260 levels.
Would it go up now ?
Don’t see any reason !
Fundamentally speaking,every player has expanded MDF capacity so competition would be strong as well as pressure on margins would remain.
Technically , it seems all big hands have exited and now it is left with retail -guys.
If any big guys are still stuck, they would take it little up and would then exit,
Don’t foresee any significant upside except some sideways movements and consolidation for next few months ( even years!)
Disclaimer : This post is just an effort for learning few methods of price-patterns. Views are personal and are purely based on our limited knowledge of charts. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
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