THANGAMAYIL JEWELLERY Weekly NSE Stock Chart Technical Analysis:
(This is a weekly chart, so each bar/candlestick represents 1 week of activity)
Thangamayil Jewellery is a 2010 IPO which started trading on 19th February 2010. It enjoyed a bullish run for the first 6 months. Since then, for the last 5 months, it has been moving sideways.
Market Outlook:
- The price seems to have stagnated, and unless it breaks above 190, there is no chance it will revive its bull run. For now, there is a high chance that this price will start moving downwards soon.
- The levels of support are 159 and 149 respectively.
- Don't enter this stock right now, and get ready to sell your existing Thangamayil if the price continues downwards.
- If Price Falling below 159 --> exit any long positions.
- If Price Falling below 149--> Take short positions and enjoy the bear run.
Technical Indicators:
- A pattern resembling the head and shoulders has emerged. It cant be exactly called HnS pattern but has a close resemblance.
- The price has fallen below its long term diagonal support line today
THANGAMAYIL JEWELLERY Weekly NSE Stock Chart Technical Analysis
