CMP is at 54.80
As fibo shows that CMP is at 0.382 , in case of Uptrend we can target R1: 60.45( which is .50 )& R2 : 65.80 ( which is .618).
In case of Downtrend , we can target S1 49.4 ( Strong Support based on previous trend) & S2 47.95( which is .236 ).
MACD is also supporting the downtrend in case of market towards downside with Divergence of '-1.35'
-Breaking out of a falling wedge.
-Breakout of high volume.
-Cleared the 0.23 fibonacci retracement which was acting as resistance.
-MACD crossing over 0.
-Should go to all time highs again.
Not an investment advice. Do your own due diligence.
Monthly and weekly are bullish. Reached all time high and is retracing. Have reached a daily support as can be seen from the ichimoku chart. If price moves above 73 and closes above previous candles then it can be a possible next swing giving a minimum target to previous highs. Awaiting further confirmation before taking a position.
A mild Divergence is showing in FSL. it may retrace to 56 near the 50Ma support and continue its ascent.
RSI is near 80 ,the last 3 candles are showing wicks which is sign of slowing volume.
waiting for the 50 ma support.
Monthly chart of FSL price at lower trendline support.Stock can be bought keeping longer lerm view.May Consolidate here for some more time & could breaout thereafter.Last 3 year range 30-50. So one can expect to test 50 if 30 not broken.& then if 50-54 broken Stock may test upper trendline of the channel.It is buy & hold stock.Stoploss of 30 can do.