Weekly Timeframe Analysis

GOLDTECH is under consolidation from a long base after a huge run-up of 802%. It took multiple support on the support zone presence below and gave a shakeout before buyers came back in this stock. 

Volume in the last two weeks increased and is highest in base even though the breakout volume is showing a positive price action on the weekly time frame.

Daily Timeframe Analysis

GOLDTECH  broke the trendline on the daily time frame and gapped up on higher volume on the breakout. It is showing a good volume surge along with gaps.   

Further consolidation can create a good swing opportunity if GOLDTECH can hold the levels.

CNXIT INDEX

 CNXIT Index shows some rounded bottom recovery on the daily Time frame and at the resistance level and many stocks from this stock reported great quarterly numbers which is a good sign for the sector.

GOLDTECH Services 

Analysis done by:
Dixit from MT Team
Equity Research Analyst (Technical & Fundamental). Experienced Index Analyst.

Disclaimer: The views and analysis shared here are for educational purposes only. This is in no way to be considered as any Investment / Trading advice.