Inox Lesiure is presently in downtrend channel , The indicators are bearish until it touches 263 levels there is a major support.
If tomorrow it fails to bounce back the trend will continue to drop till 263
Above mentioned is only for study purposes, kindly review or consult your financial manager for confirmation.
I am not a Sebi reg analyst, this is purely...
stock not participating in market rally
an upmove likely top be a bull trap i feel
i personally like to go /stay short as long as its trading below 1328/1348 area
thus buying a ce of 1300 odd area by selling 1400
as well as shorting a pe of 1000 odd levels and future short can overall poroove to be a safe thing with a good RR
will like to go long in the script forming a good marubuzu , followed up buying and sustaining the levels , stock beaten up laready , thus some good , can add great in market cap .. stop of 51 target of 60++ risk to reward near 1 : 1 .
Inox wind has shown a classic descending triangle pattern. The stock has also been performing poorly vs. BSE 500. Despite the recently concluded bull run, the stock did not get any traction. The accum/Dist chart also confirms overall weakness. The stock may be on the way to its life time lows.