Monday, April 10, 2017

>MCDOWELL after MP liquor ban

Hi friends,
                    I tracked this stock for sometime now,I had posted about it Mcdowell waves and 
had mentioned about a bounce coming in it near 2100 we saw a bounce which took stock to 2200+ .
The stock was spending time near 2200 ,Thats when the supreme court ban on highway liquor shops came and the stock saw a deep cut ,Further the stock was trying to absorb the damage near the support of 2000 ,And today a big news came from MP  All Liquor Shops In Madhya Pradesh To Be Shut down In Phases, Says Chief Minister.The stock fell and broke support of 2000.Let me post the chart.

The stock looks fragile now lot of news flow has damaged the structure last big support near 1800-1780 .For now 2000 is a stiff resistance .I would get interested again in this stock above 2000 or near 1800.At times news play havoc.


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