Technical Analysis is essential after a due news flashes out. Some strong pattern formations are being undergone like Bullish Candle, already formed Triple Bottom and Rectangular Pattern is under process. Financials also support for the same.
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
Also formed a pennant, so it will have to go in a direction, as the candles are getting compressed
In case of gap up above the previous day's high or gap down below the previous ...
The stock is in bearish zone and will enter into the influence of Gann fan once it closes above 222 on closing basis. Present support is at 119 (variable). This 8/1 last support was tested on 05.12.2018.
On charts the stock is at levels which has the potential to act as support.
The stock looks good to go long from risk:reward perspective.
At CMP and on further dips the stock can be looked for Target of 144/156
Stop loss if closing is below 128 /126
Take care and safe trading...!!!