What pattern can we expect? Can we expect CARE to hit upper resistance zone of 700 750 and turn back?
Possible patterns:
1. Rounding bottom
2. Cup and handle (mean reversion in smaller time frame before the next upmove.
3. A double bottom reversal from 600 levels (the W reversal pattern).
I have entered at 600 with a positional view and a tgt of in the zone of...
NSE:CARERATING
Descending triangle breakout
if enter in SnR zone of 515 - 560
we may see bounce till 540 550
if break 500 support
then 450 420 can be seen
Care Rating is shwing weekly postive divergence..
looks good for a buy on dips with target of 1150 1160 which is also weekly 50 mov avg and 200 daily mov avg
note: this is my personal view only
