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Likely to see a target of 1505 in short term
Sadhana Nitro, which had gone down the ¼ line 20th August, has recouped ¼ line on Friday. We are now likely to see a level of 862 in near term and a down trend may follow. Medium term target is at 1350
It has to recoup and go above the line at 750 for reamaining bullish. Else it will visit 650 for touching channel line and further movement
Tomorrow 1/4 support should hold for any up move from there, else to complete the channel, a level of 635-640 can be seen in short term.
It seems the stock will hit the roof of the channel at 810 very soon. Will we see a breakout of the channel from there? Depends on the bullishness of the stock.
In the shrot term a level of 805 can be seen. Any bearishness can find a support at 625
With 5% LC closure, the stock is standing just above 1/4 support angle and if it runs bullish is likely to return for further up move from tomorrow. Medium term target 1225 holds.
But on the back of blockbuster result the resistance will be broken tomorrow, for sure. May I make an estimated target price prior to next Q result? 1225 or more!
Next target is 724.90-728 in short term.
Let us see if it closes above 575 in a couple of days and then the bearish channel will be broken
If in green fresh entry may be contemplated. (Please ignore the red lines.)
We are likely to see two more UC's before sideways movement. Target 660 in this run up.
If it does not return from 396 and moves down ward, next support will be at 366. If 396 holds or not, we will know about it by friday.