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Stock is sitting on Trendline and Horizontal support. RSI shows Bullish divergence and should bounce from here. Bullish Short term.
One Can look for Going long on CMP and hold it with trailing stop , You can look to exit near 371 , current stop is 315
LOOK IN THE CHART
The analysis is on weekly time frame so i believe its a long-term investment.
The stock is forming a new higher lower formation and showing constant reversals from 507.
Now the stock has managed to maintain its 100 day moving average.
So currently its placed near the lower end of the formation.
"A GOOD TIME TO BUY" for ...
The Stock Corrected from 536 level to 375. Now Uptrend stared. Check the Chart. Stoploss below 375.
Buy only above trendline, else may touch 335
Initiate BUY add on dips upto Trendline.
If stocks takes support from Trendline/100 MA, invest for 30-40% gains in short term.
Maintain SL of 400
Stock bouncing from "C" Level. But buy only above blue square box ( 485) with target of 600+ . Stops below 410. PRZ (Possible reversal zone 640/660)
JKLAKSHMI looking good for long setup. Good Support levels seen and seems has bounced from the strong support zone. May expect 480 levels soon. Closing Basis support seen at 408.
jk laxmi given brealout