After breaking out of the previous ATH levels it formed a base of 11weeks and range of ~20% and now gapping away and showing strength.
Point to note here that it is not able to sustain above 1635 levels. so we need more confirmation for the same. At present it is trading above all its key moving averages.
Gap can be filled and it shall not as well, this will be confirmed in near future only. 1635 is the crucial level to watch for in that case.
If it manages to sustain than we can see possible test of the 2090 & 2470 levels in future.
1541 shall then act as as a major support zone thereafter TSL should be kept in place.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade on your own risk.
Point to note here that it is not able to sustain above 1635 levels. so we need more confirmation for the same. At present it is trading above all its key moving averages.
Gap can be filled and it shall not as well, this will be confirmed in near future only. 1635 is the crucial level to watch for in that case.
If it manages to sustain than we can see possible test of the 2090 & 2470 levels in future.
1541 shall then act as as a major support zone thereafter TSL should be kept in place.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade on your own risk.