Took support at the 50% fibo retracement + 200EMA + 10MEMA and now looking to breakout of the descending trend and make a new higher high.
There is also a double RSI +ive divergence.
Long above 42000
Target 47750 and then 50,000++
Above 42,000 post entry if the stock moves 5% shift SL to cost and let it ride with a low risk exit if the markets turn...
Stock has corrected from life time high and now has taken support at Fibonacci levels. Big bullish candles followed by big volume is seen in day chart. Target of Rs 49000 and SL at Rs 41000 should be noted.