General Discussion, page-838

Are we done with this consolidation?.

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Yes, from a weekly perspective, slight gain as we moved from 10 to 11. Some good volume days as well, so lot of interest still here.

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It looks like we are still consolidating, in the zone of 10 to 12.5. There is still supply, so we have to get over that. Nothing unusual, in fact healthy, for the rise to hold. Otherwise we could have one big rise and then smacked down. This consolidation, rotation of hands, better chance of holding and going up. Previous week, we moved from 7.9 to 10. This week from 10 to 11. We also reached the first target I had mentioned - 12.5. So looking good for now, but many expecting a lot more. I feel it may come, after the churn. But anything can happen, so please dyor.

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Personally, as I have mentioned few times, I do like to trade, also play some numbers, some levels. I know most here are long term, but I hope many understand that different people could play differently. I feel there is no right or wrong, as the cat can be skinned differently. Reason I am writing is when I write I am looking to trade, sometimes I get a lot of flak. Most of my holdings now is at 10c, a lot of others from mid 6s etc I have traded out. I will hold if high 9s is looking like holding. My first play now around 14.5. Odds are good at this stage, but it still needs to happen.

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So what may happen next week? Any announcement may provide direction and will overtake the technical and sentiment play that is happening now. From chart perspective, I am aware it may not have crossed some key levels. Although I am no chartist, I do respect the theory, so will be watching the levels people have talked about. But with June tax sell complete, there may be slight euphoria, or let's say some positivity. If so, there is a good chance of next play of 14.5. Let's hope it plays out that way. Enjoy your weekend and all the best.