It has been observed on the daily chart that the price action rebound on the strong support zone of 38-39 previously and now, it has done it. It is indicating a good buying at those levels and now it shall boost this rally further up.
As per fundamentals, It is trading a low P/E and below its book value which is another good value addition for buyers to initiate in it. Now, if it stays above 39 levels then it shall further rally up from current levels.
Short Term View,
T1- 42
T2 - 44
SL- 39
Longterm:
T1- 50
SL 36
As per fundamentals, It is trading a low P/E and below its book value which is another good value addition for buyers to initiate in it. Now, if it stays above 39 levels then it shall further rally up from current levels.
Short Term View,
T1- 42
T2 - 44
SL- 39
Longterm:
T1- 50
SL 36
Trade active
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Trade closed: target reached:
Target 1 reached successfully. Regards
Trade active:
Now, looking strong for target 2
Comment:
Traders who missed the rally can re-enter at current levels for another bigger rally. Thanks
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