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It is been observed on the hourly chart that the price action is forming a continuation pattern after breaking downward channel pattern.
It shall be a good opportunity to take a part in it once it closes above 93 levels.
I shall update the targets later.
#Watchlist
Regards
It shall be a good opportunity to take a part in it once it closes above 93 levels.
I shall update the targets later.
#Watchlist
Regards
Trade active:
Target: 93.50
Stoploss: 91
Regards
Stoploss: 91
Regards
Trade active
Comment:
Rising wedge triangle did breakdown and failed continuation pattern. Now, taking 87 as a good stop loss. one can enter long. Regards
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@NeeteshJain - Sir, I guess there is no point of holding this anymore, its a free fall. Is there any other update.
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@VikasChhatwal, It has previously broken crucial support of 85 levels. And now it will change trend once it closes above 93-95 levels as initially mentioned. Regards
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@SatyamMishra, I recommend a buy once it closes above 93 levels, which never happened. Then I said to accumulate around 87 then it came down to 84-85 levels. Now, to be on a saver side buy once it closes above 88 levels with SL 86. Regards
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@NeeteshJain @NamantSatiya @shiyas @samayra , as expected the stock has fallen & made low of 85.50. It looks to be a good bet to buy at this level.
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@samayra, I think we should avoid going long or buy at current levels as It has gone below good support levels. Now, it shall consolidate from here on. I shall be updating more after the closing of current session. Appreciate your input. Regards
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Here is the outlook:
IDEA - margin beat due to cost optimisation
EBITDA at 27% vs 25% (Est of 22- 22.5%)
"Loss lower than expected"
Resource: CNBC News ( Twitter)