Amara Raja at support? AMARAJABAT
Amara Raja Batteries has been falling since its high of 1025 in Jan 2021. It is currently at its historical crucial support level of 710.
Next support is at 640. I will short this stock if there is volume support when it breaks 710 and enter at 705 when 710 is retested as resistance. My target will be 640 with 730 as SL.
RSI also takes resistance at 60 indicating bearishness.
However, I see a trend reversal once the stock reaches 600 levels. I will still look out for a reversal pattern & RSI range shift to go long.
Next support is at 640. I will short this stock if there is volume support when it breaks 710 and enter at 705 when 710 is retested as resistance. My target will be 640 with 730 as SL.
RSI also takes resistance at 60 indicating bearishness.
However, I see a trend reversal once the stock reaches 600 levels. I will still look out for a reversal pattern & RSI range shift to go long.
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