What needs to be seen is as to how far would this upward move go with Fibonacci retracements placed at 224.5, 235 (for move from 244.85 to 193). Interestingly 235 was the level from which it gave way and move towards 193 and so it needs to be seen as to how does it behave at those levels.
Would be taking a back seat and seeing as to how far would it go before turning around. I would appreciate if someone can put a number to the move and back it up with their explanation on the same.
fundamentally rubber prices are going down and company is increasing is production capacity.
stock is trading at way cheaper valuations compared to its peer, so i see a good upside in next 1 year for a target of 290 and a SL of 190.
so its better not to predict the swing better decide your way of trading(Intraday/Positional/Investment) and accordingly set your target.