It has been observed that the price action breaking above previous resistance zone of 1250 levels indicating strong buyers coming back and taking price action further up and above the resistance zone.
LT is trading near its strong support of 1130-1120... buy between 1130-1140.. keep stoploss of 1110 on closing basis..
immediate target is 1170.. if it stays above 1170 convincingly with rise in volumes, then hold it tight for targets above 1200...
LT is currently trading near its strong support level of 1130... immediate target is 1170.. if it sustains above 1170 convincingly with increase in volumes, then hold it tight for targets above 1200...
LT-Resistance around 1133-35 and keep sl above 1150
break below 1105 can bring downside of 1075- -1050 or more toward 1025
intraday level can be seen 1090-88 and ,200 MA level of 1062-65 can be taken in view
It is been observed that the price action indicating weakness due to the formation of two consective bearish candlesticks at the prior resistance levels. It is also indicating price rejection at higher levels.
Target 1: 1700
Target 2: 1680