This chart exactly shows how the sp is being capped at 16c in last 6 trading days. The green colour of the candlesticks clearly indicates the buying pressure. All of them are bullish candles IMO. And they all closed above 9 days moving average. But the long upper tails on last 5 of them other than today indicates a struggle for capping.
Today's candle is the most bullish as it closed above 21 days MA (which is on 16.25c).
We have the 50 days MA at 18c, and 200 days MA at around 28.5c. Then it's open sky IMO (52c and 80c resistance levels in deed).
(It was previously capped at 18c before)
The answer of the question to why it is being capped might be a few. The easiest and the clearest answer would be; someone knows something we don't know, and wants to accumulate. The accumulation can be seen on all momentum type indicators (especially on weekly charts). They show over 30c sp at the moment. Today's sp is only a dummy one, or a big opportunity IMO. That's why I said I am buying with every cent I have.
NSE Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
