- Using the monthly chart we can locate the lowest support price i.e. between 26-36 INR .
- The price may soon rebound an open an amazing long positional position.
- The trade can prove to be good for positional traders who are agreeing to lock in at
this price and wait for the price the head in the north direction
- Traders should get in only when the price rebounds and not before that.
- The Stop-loss should be placed bellow the lower support line i.e. below 26 INR
- Once the price starts moving up a trailing stop-loss must be used to get out with guaranteed profits
Any kind of criticism is highly appreciated !
great time and indication to buy in!
As you can see the price has always bounced off the support levels I have drawn , therefore there's high probability that it will happen again since stock prices move due to trader sentiments and past price movements.
Even if you buy in at the current price and hold for a period of 6-8 months you'll get great returns since this stock has good fundamentals.
I will try to analyse the daily charts and upload it for you,
Hope I cleared you doubt.