Usually whenever there is a breakout (bullish/ bearish), the rally is strong. Reason being, a build up near support shows no more buying pressure coming in. In IGL, breakout is done with strong volume. Expecting further downfall.
Whats your view on RSI entering to oversold region and a support around 400-405
kalyanganguly
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@krischan44, Agreed that RSI is entering oversold. However, there would be some consolidation before further fall. However, there is a support at 396 - 400 levels. So will have to keep an eye on any bullish reversal pattern at these levels.
JPCorp3
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how much it can fall further?
kalyanganguly
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@JPCorp3, I am expecting around 396 to 400 levels. Let's see.