CMP is around a good support of 154 - 155.50
Price below 154 can seek support around 142 - 145.
However, RSI has broken the lower trend line indicating bearishness!
Below 140, the next strong support is around 127 - 130.
Missing that, the stock can fall to fill the gap of 121 - 112.
On the contrary, upon bouncing from the channel's lower TL, it can break-through the channel resistance as a 3-Drives pattern!
The charts posted by me are only for learning and not for trading purposes!
I am not responsible for any trade action taken by anyone whomsoever on the basis of the views published!
I am not a certified Technical Analyst or SEBI Registered Investment/Trade Adviser!
Price below 154 can seek support around 142 - 145.
However, RSI has broken the lower trend line indicating bearishness!
Below 140, the next strong support is around 127 - 130.
Missing that, the stock can fall to fill the gap of 121 - 112.
On the contrary, upon bouncing from the channel's lower TL, it can break-through the channel resistance as a 3-Drives pattern!
The charts posted by me are only for learning and not for trading purposes!
I am not responsible for any trade action taken by anyone whomsoever on the basis of the views published!
I am not a certified Technical Analyst or SEBI Registered Investment/Trade Adviser!
Comment:
Broke the lower TL and touched the first support zone. A close below today's low will make the stock see 127 - 130 range!
Comment:
Tried to get back into the channel but price was heavily rejected back; Pushing it almost 5% down from day's high!
If market remains volatile tomorrow, this can touch the accumulation zone!
If market remains volatile tomorrow, this can touch the accumulation zone!