The Micro Analysis of Daily Chart of Sksmicro clearly points towards Bulls Trap. It posted a swing low around 360 with the burst of volumes. After consolidating for few days it started its northward journey which was not supported by volumes. Just couple of days ago it posted intraday low around 436 and showed smart intraday recovery but failed to close above its 200 DMA. During today's session it witnessed gap up opening of more than 5% but gave a poor close and again closed below 200 DMA with quite higher than average volumes. We believe that the current set up is a clear hint of probable Bulls Trap and expect more panic in the counter in sessions ahead.
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