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Trading Wockhardt – Watch the Price action near Decision Point

Price action trading near decision point in Accumulation Phase

Wockhardt (NSE: WOCKPHARMA) Stock prices trading in range since June 2017. Market action followed the route of other Pharma companies. From November 2016, prices tumbled from 900.00 till market found eventual support at 570 – 550.00 in the end of May 2017.

Price action was quite random and didn’t show any signs of Big money activity till the month of August. Volatility accompanied in the range and increased. In Mid august, Market behavior reflected signs of Large orders execution at low of the range (around 530 – 540). It seems like some big players are trying the bid the stock at lower prices, making it obvious to notice their accumulation phase.

Currently stock prices are trading around decision point zone 640 -650 (It’s also a potential resistance). When we think about price movements on the perspective of Accumulation, it’s tempting to conclude that prices will breakout upside. But before jumping to such conclusions we should gauge the selling pressure by observing how price is reacting at decision point. Keep an expectation for range trading and breakout setups. Watch the Price action for clues and trade accordingly.

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About the Author:

Balaji is a Speculator, Investor and Trader (All in All!!!) and self published author. Trading in the Markets since decade, have seen more ups and downs along with institutional trader's lifestyle. He usually trades Nifty, Bank Nifty, Commodities, Futures cum Options around both Indian and global Markets. Balaji applies highly analytical and systematic Price Action strategies He blogs passionately about Trading strategies, Price Action Trading, Technical analysis, Macro events, Market setups, Financial and Economical topics. Apart from Trading and Blogging, Balaji also mentors aspiring Traders and Investors on becoming successful in highly competitive financial Markets.

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