Aksh Daily Chart.
What worries me is the breaking of a strong support trendline on closing basis. Although the price seems to have taken support from the trendline, the break is worrying. Next week seems to be key in determining weather this trendline is still valid or not.
I’d hold with a S/L of 14.75 (Lows of the trendline breaker candle).
Mehanz ji, even though the delivery % is above 50%, lack of decent volumes during the fall looks worrying. Only big volume day was the first day (4-7-16) of the current leg of the fall. What indications did you see to suggest that weak hands are exiting? And heavy accumulation is going on?
Meanwhile, volumes in general have picked up since July last year. So, it sure looks promising in the long term!!
Even in the medium term, if the lower channel trendline holds, we can see prices upwards of 21 IMHO.
DISC: Invested. Added more on trendline touch at 15.10.