5mangoes

Approaching key supports!! Will it sustain?

NSE:PERSISTENT   PERSISTENT SYSTEMS
2
Persistent seem to be in a range bound since mid 2015 and the recent decline is approaching key supports around 580 levels. With the declining weekly RSI trend intact, the stock might find it difficult to sustain on the current test. Failure to hold above 580 could start a strong downside move towards 490 and 460 levels. On the other hand, strong evidence of buying above 580 could negate the downside potential and rebound more strongly towards 700 levels. Watch out!!