Bearishness will gradually go away as the stock goes away from the influence of descending line. Today the hindrance was the Upper Circuit limit of 5%. The stock will start behaving normally once it crosses 8/1 ascending line which it may cross in two days at 140.70.
Support at 101, being the descending 1/2 line. Immediate target is 129. If the stock manages to close above 153 b y 26.07.2018, it will be out of any bearish shadow of previous high.
The stock is out of 1/1 descending fan angle and is expected to cross 2/1 descending angle at ~182 in short term. If it does so, the stock is expected to touch 198.50 in about two weeks. If it crosses 212-220 in next 30 days, it will come out of bearish trance. Support is at 145.
The stock has formed a channel and the range of the chart movement in the channel is 980-1150, which will be short term range. 1/2 angle support for the ascending Gann fan is at ~1160 ( variable on progressive basis) which will act as a support in case of any fall back and 1/3 line resistance is seen to be in the range of 1350-1550, which will form the medium term target.
