[India] Mystery Chart 07-30-2019

JC Parets
July 31, 2019

New Mystery Chart!

For those new to the exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it's a custom index or inverted, who knows!

We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.

You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?

To us, this looks like a base breakout and beginning of a new uptrend. What helps reiterate this thesis is the fact that prices successfully retested the breakout area and resumed higher.

Click on chart to enlarge view.

Buying any weakness back towards the breakout level is how I'd play it.

What do you think?

Tweet us @allstarchartsIN or email bruni@allstarcharts.com and check back in Thursday to find out why this chart is relevant.

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