In monthly, it has formed a round bottom pattern, and breakout happened with high volume, now it is retesting the breakout level,
in weekly, it is bounced from trend line support and hidden bullish divergence is formed here,
also in daily, after a downtrend, trend line resistance broken with good volume and regular bullish...
Bharat' Bijlee: 981 is moving down to find a support probably around 900
If this turn out to be true, the next resistance will be 1250.
We may have 10 more trading days to have a confirmation.
On the other hand a failure at from this Bump run Trend Line support,
it may find support near 800' But this view is having a low probability.
CMP 1136; The stock after hitting recent highs went into sideways consolidation and now again gearing up to break the upside range. For me i would risk it on Long side and Target 1236 with a strict stop of 1110(closing basis).