The stock is finding support at Fib retracement of 0.618 from its long term up move since 2017. This level is also the Institutional Buy Zone in Monthly Chart.
It is currently trading at almost -51% from its all time high of 1000.85 on 18th Oct 2021.
The stock has broken out of its long term downward trend line from it peak on 6th Nov 2023 with huge volumes of 14.78Mil shares compared to its average daily volume off 2.53mil shares.
It opened gap up at 479.95 from it previous days close of 460.65, it reached a high of 513.70 and closed at 510.
Inference: Pick up 50% of the planned quantity at near current market price of 517/- and pick up the balance if it come down to around 470.00 to 480.00 levels.
STOCK IS TECHNICALLY LOOKING GOOD FOR LONG TERM WITH A TARGET OF 690/- IN ONE YEAR.
It is currently trading at almost -51% from its all time high of 1000.85 on 18th Oct 2021.
The stock has broken out of its long term downward trend line from it peak on 6th Nov 2023 with huge volumes of 14.78Mil shares compared to its average daily volume off 2.53mil shares.
It opened gap up at 479.95 from it previous days close of 460.65, it reached a high of 513.70 and closed at 510.
Inference: Pick up 50% of the planned quantity at near current market price of 517/- and pick up the balance if it come down to around 470.00 to 480.00 levels.
STOCK IS TECHNICALLY LOOKING GOOD FOR LONG TERM WITH A TARGET OF 690/- IN ONE YEAR.
Im expecting good returns from this stock.