The stock has clear resistance from 117 to 121. It has tried to breach this resistance, however, we can see a big selling. Now the stock is possibly making a cup and handle formation. Price change from the bottom of the cup to the top of the cup is around 45 Rs. If it able to breach the resistace of 118, we can expect up move of 45 Rs from the top of the handle which is coming around 160 Rs. Investors with medium to long term plan should start accumulating this share from this point onward as it is creating a base and a strong support at current levels. Investors should accumulate the stock in each dip until the levels of 120 for very good returns.
SL - 90 Weekly basis.
SL - 90 Weekly basis.
Comment:
140. around 30% gain