Stock currently hovering near Weekly Strong support levels, which extends downside upto 2625
As we can see stock is not making new highs but also not making new lows as well
There is also a daily strong area merged in the same zone, which can be considered as a good buying zone, with a downside Sl of 2600 (Closing basis)
If it manages to hold the mentioned area, then we can see a good upside upto 3250 / 3300 areas
Risk to reward ratio looks good
Lower time frame confirmation is a must
Broader market is bearish as well as chopp, so be cautious
As we can see stock is not making new highs but also not making new lows as well
There is also a daily strong area merged in the same zone, which can be considered as a good buying zone, with a downside Sl of 2600 (Closing basis)
If it manages to hold the mentioned area, then we can see a good upside upto 3250 / 3300 areas
Risk to reward ratio looks good
Lower time frame confirmation is a must
Broader market is bearish as well as chopp, so be cautious
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.