Well, the charts are indicating that it is prudent to mix your investment with your drink (perhaps as a celebration). Taking trendline support. Has corrected and the stock is now moving above the 61.8% Fibonacci retracement level. Good for long with 1256 as SL and 1356 as TGT
Not looking bad!
Disclaimer:I am NOT SEBI registered. THE OPINION GIVEN OR THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
Yesterday it returned from resistance line and is likely to pierce through resistance and descending line's confluence on 4th March if not earlier. Strong support around 160, having made a number of lows at this price range
Exactly taking supports at angles.
298-300 zone will act as good support zone,
traders may take long positions with low risk (use support zone as stoploss).
need closing above 307 for good bounce.
Regards,
Ak
Sustaining 12160 - 12180 will make the price to move towards 12220, 12250, 12280 and 12320. Bearish below 12140 for the targets 12100, 12060, 12020, 11980 and 11920.
Bullish above 30920 for the targets 31040, 31220, 31400, 31640 and 31800. Bearish below 30760 - 30800 for the targets 30660, 30520, 30400, 30260, 30140, 30020 and 29880.
Entry envisaged to be gainful if one gets it at around 1800 in the short term down trend. Overall showing a rising trend with no hindrance. Long term target 2450.
