Stock is trading at major support line as per daily timeframe. Triangle pattern has formed in 1 hour timeframe. Long above 364 and Short below 355.
Fundamentals as per Q1 results are positive. Volume is decreasing as price decreases, it suggest that sellers are weak.
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Also the price is making higher-highs and higher-lows and showing support at 200EMA.
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Yesterday price closed above 364. Due to gap up, over-night position has given a good profit booking today. Hope this analysis is helping everyone.
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Watching the Price action of 1 hour candles its better to keep a stoploss at 366 which is 2 points above the purchase price of 364, so that any fall will help to book small profit that cover the transaction charges.
Do you think it goes down. As I am having 345pe at 10.9 and current price is 8.7 should I wait for quite and if yes than what is the stop loss and target for me