STCINDIA - Weekly Chart Analysis, CMP-153.65After breaking the confluence of the down trend line as well as the resistance levels 95-109 it had formed a base of 17Weeks and 37% range where it retested the resistance which turned into a support. We see a good volumes coming up over the past few weeks showing strength.
It is now above all its key moving averages.
135-143 shall now act as an initial support and if it closes below these levels and sustains on a weekly basis then our view gets negated.
214 - 282 - 317 are the possible levels it can test in the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
