Turning Bullish: Equinox India Developers Ltd. (EMBDL)
EMBDL has turned bullish since Nov 1, 2024.
It reached peak level of 165 in June 2024.
Since then It came under heavy selling and fell to 127 levels.
It has been consolidating between 127 and 141 level for nearly three months.
Volume contraction happened. However, 127 level was broken in the last week of Oct 2024.
However, the stock took strong support around 105 and gave a strong breakout with good volume.
We can confirm the bullish trend once the 141 level is broken and the 20 EMA (Black Line) has to cross above 50 EMA (Orange Line).
Resistance levels: 141, 151, 160, 165
It reached peak level of 165 in June 2024.
Since then It came under heavy selling and fell to 127 levels.
It has been consolidating between 127 and 141 level for nearly three months.
Volume contraction happened. However, 127 level was broken in the last week of Oct 2024.
However, the stock took strong support around 105 and gave a strong breakout with good volume.
We can confirm the bullish trend once the 141 level is broken and the 20 EMA (Black Line) has to cross above 50 EMA (Orange Line).
Resistance levels: 141, 151, 160, 165
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