A recent triple top with attempted break out over the 870 levels. The recent bullish pattern is not supported by volumes and the stock is showing a neutral trend with comparison to the Nifty. I would watch this closely as strong break out from here on would confirm a bullish pattern. However, I would think given the current market scenario, we should expect a downward movement and the stock would continue to remain range bound for some time.
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So as anticipated this stock has taken a hit this week. Also being Christmas holidays the general market perspective looks glum. So will anticipate further downside, new year maybe a time to take short term positions on this stock.
Trade active
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The stock has crossed its strong support once again. So keep your eyes glued.
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Upside break has continued. Volume will be confirmation for long positions on this stock.