It is been observed on the hourly chart that the price action consolidated in a downward or a zig-zag correction and now it has broken above the downward trend line indicating buyers come back. It shall further take the prices up from the current levels.
Idea in news for expanding 4G network in 30 new towns within India. Regards
Stoploss Changed to 108
Big players taking every dip as an opportunity to buy in the market. Idea is one of the script where big players anticipating the same.
It is in a bullish mode and it shall further move up to 120 levels in march series.
Updated Chart with new stop loss,
Trade closed: stop reached
It is still in uptrend and it shall move up again later in coming days. Now, you can hedge your positions by buying a PE 102.50. Regards
It did come back strongly and continuous to trend up. Regards
Hi Neetesh and Shiv, interesting analysis by both. it did correct to 102-103 levels as picked up by Shiv and it did reach 112-114 as picked up by Neetesh. Now what is further course of action...of course it is bound to reach high levels once voda-idea merger is concluded ..but is it again expected to correct to 102, before taking a bounce up?