1. It has been trading in a range 185 to 280 since May 2014. It has made a low of 188.50 in the last week and finally closed at 190.45. This implies that it is trading at lower range near support which has been respected many a times in past.
2. As mentioned in the preceding point, range indicating have been drawn on the chart.
3. as marked on in the chart can be seen signifying loss in momentum towards downside.
In view of above observation, it can be a good forthcoming long side trade with favourable risk-reward ratio if it shows reversal candle on chart in near future.
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