KIOCL
Looks like a case of base formation.Has been facing stiff resistance by 50MA(have marked the instances on the chart.Volume on fall has reduced drastically and now looks like all supply has been absorbed.To me looks like accumulation is going on and it is read for a change of trend.Some volume pick up can be observed.As of now 160 looks like a solid bottom.
Looking for fundamental triggers for change in trend to be supported.On friday buyback news of CPSE companies has come out which can support price.Other fundamental and technical criticism is welcome.
@Capsule91 @phreakv6 @manivannan.g your views would be appreciated.
