Idea is long term bearish and buying a longer term bearish stock is not a good idea.
Long term investor need monthly uptrend to invest in.
But as a swing trader if we consider a weekly time frame, then 5-7 rupee looks a good demand area.
Look for the price action in this zone in upcoming correction.
Long Centurfly above 820 after the BO of TL for the target 950 SL 760. A stock in momentum RSI above 60 sign is a bullish sign. This is for your educational purpose only.
Idea share price has been following trend within trend with ascending triangle. Hope it will touch level Rs 20 to 30. then sudden down or range bound possible.
Short term target Rs 10 to 12
Mid term target Rs 20 to 30
Duration 20 to 90 Days
Disclaimer: Stock Market Is Subject To Market Risk. Buy Sell Is Your Choice.
Cheers!
Vikas Gupta
