Currently the stock is trading in a channel.
- On the upside 158-163 may act as potential resistance zone
- Below 146 stock chart may indicate further weakness
One may look to sell the stock either on rise towards 160 or once it breaks below 146 for target of 133 / 122
Take care & safe trading...!!!
The stock had a good positive rally since 186lvl (11/2016) till 390lvl (08/2018) forming the pole of the pattern.
Since reaching the high of 390lvl it has corrected and has found support on near 280lvl (Fibonacci 50%). It has broken & closed above the Fibonacci 38.20%lvl giving a confirmation of the trend continuation.
We can enter in range of...
Nice breakout with strong momentum on RSI and above average volume.
Currently near resistance zone 327-329.
Lets see if it gives a buying opportunity on pullback or else the price action above the resistance will decide the entry. Targets are mentioned.
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