Entry point should be the low of previous swing low which is 126.7.
If it goes below 126.7 then short it with stop loss of nearest high of a swing high: 130.6.
If it bounces up from 126.7 then take a long position with stop loss of nearest low of a swing low: 123.15.
Its long term trend is up.
In weekly, price bounced from the horizontal support.
price reversed from the 61.8% retracement level.
sl - below horizontal support - 180, tgt - 310.
After the recent news flow there was a sell off in this counter. However, that was a sector wise sell off. The open interest data suggest that majority in the market are positive on this counter and here is the snapshot - www.screencast.com Expecting the reversal to hold and go back to the previous highs.
Immediate target 700 and stop at 600
Keeping it very simple for a long time axis held on to a very important support i.e 519.. As they say for chart reading go from left to right. Now Axis faces resistance @ 534 its 11 day EMA if axis opens and stays above it Axis will hit 548 which is its next major resistance i.e its 23 day EMA. Stoploss for this upmove is 525. Best of luck!
IMP POWERS LTD has bounced from a monthly trend line. Also Considering an Elliot-Wave study, it appears that the long term correction of this stock go over in its earlier upmove to 126 levels.
The target from here-on is 126 levels, it can be bought with a stoploss of 77.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
