Everybody's fav AMC. Long term super company. As long as it holds above this breakout, it could go on a new path.
Very well managed too which gives investors confidence to put money into this instead of other AMC's
With the news of HDFC AMC providing liquidity up to 500 crores to FMPs, the stock has fallen 6% at a point intraday. Price has temporarily bounced off from 38% FIB of previous swing. That level also being round number of 1800, it could well act as a support. Do notice the rising trendline. Chances are that the candle close could be above the trendline. Hence, it...
1600 is the crucial level to watch out for. Go long if it is able to close and sustain above that level.
On the downside, the range around 1470-1500 could act as support which would be a golden chance to shop this counter.
Analysing historical RSI suggests that the price reversed when RSI clocks mid 70s. Currently RSI stands at 74.67. Expect a one time price...
