I would exit stock if I was holding it and reenter after correction.
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
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The stock reached ATH of 170.70 and then fell 62.68% to reach 63.70 on 11th May 2022. Since, it has been consolidating within a range.
Recently, i took support from lower end of the channel and gave a breakout from resistance trendline rising nearly 15% in 4 trading sessions.
The stock is trading above its 21 and 50 day EMA, but it is below 200 D EMA. Risky...
Wait for the price consolidation to break above 158.
Breakout above 171 may trigger upward momentum.
To be cautious if price falls below support zone of 132 and 126.
Note: Chart analysis for educational purpose, not a recommendation for buy or sell.
