This is in an uptrend for a while, recently it had formed a H&S pattern and now it had retested and rejected from it. I expect this scrip to fall further, it doesn't look like a major trend reversal but a correction which may continue for months. Swing traders may short it in futures are buy a PE to benefit from it. As it is in an overall uptrend, we should have target based trade on it. My first target will be 665 and my second target will be 582 but if there's an bullish momentum in this scrip try to exit it with minimal loss. Another point to add is it had aslo formed a evening star pattern in a daily timeframe, so intraday traders may have this scrip in focus for next trading session.
Good analysis... Please help to post an update, where is the stock going from current levels...
Raghulramdoss
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@alark123 It is trading in a range for past few days, so its hard to predict its next movement. If you're holding this scrip just hold dont exit in urge if not avoid taking any fresh position It is just above the 200 Weekly MA and well below the Pivot, so its neither bullish nor bearish.
Please help to post an update, where is the stock going from current levels...