Is this the usual churn or something brewing in the background?.
Yes WC8 gained 1.5c to finish on 44.5c, on a lower volume today of just over 8m shares traded.
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So was there anything different today? I feel many things.
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First of all, in last 2 days, first time we are finishing towards our high if not high. A big change when usually we finished in the middle or lower. I find that very bullish, just based on trading pattern. Also broke the pattern of alternate red and green. But kept the pattern of 10% swing play in a day , this time in our favour. So if big play continues, there is a possibility of a rapid rise. Let's see, next week is crucial.
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Secondly, since we lost 50s, this is our highest finish. It may not mean much, as we are still below 45, but just shows the rough patch we have gone thru, and this is an indicator that we may be coming out of it. Don't want to predict anything or give hope, so please dyor.
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And thirdly, but most important, at least for me. I usually go big on some plays on trading pattern and gut feeling. I don't always get it right, but has worked out well on a number of occasions. 2 days back, I was playing this big, in a fairly big way, but for usual drop in Li sector. Yesterday for first time I got a feel that something different may be happening here. I added 30% more yesterday
Today again I got the feeling. I added 10% more. Am I confident that something is happening? Not yet. Yesterday I was 20% confident, today 30%, but there is still 70% of me who wants to see more. So still early days. Getting over 52 is key for me. This is just my gut feel, I could be wrong, so please dyor. My average still around 40 for now.
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So what may happen next week? Last night ALB was in green but not much. So no clear direction from macro perspective. Any gains for ALB intra day in last 1 week is immediately sold down. So we are still in a concern zone. But WC8 has defied general directions before to carve its own path, and may be can do it again. Will that happen? Let's hope so. Enjoy your weekend and all the best.
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