SORIL INFRA RESOUR NSE:​SORILINFRA

Broke out but came back from resistance. Next couple of days action to cross the resistance will determine its trajectory, could surprise many, beacause of the breakout.

Soril Infra has been respecting the support resistance angles (Please see arrows). Short term resistance levels are 330, 350. Intermediate term target is 555. Support 255.

Descending angle resistance is at 350 which could be a support and the next strong support is at 318 which is likely to hold. If bullishness returns, target will be 540

Based on trendlines, the correction may happen till 550-600 levels

As can be seen in the chart, the stock could not cross 1/2 ascending resistance line and came back and trying to cross again. It may take a couple of days to cross it during the period of which stock may seem to consolidate. Once the resistance is crossed decisively, further up move can be seen. In case it is able to cross the line in intermediate term 1228 can be...

Resistance ahead at 455. If it crosses on closing basis, next target is very high.

Retest of 250 coming up

Close above trend line at 250 will push this stock upwards

Retracing from 38.2 fibo CCI8<-100 CCI34>70 CCI D/W >100

Logic in chart

SorilInfra is having resistance Zone in 96-92 zone. This is multiple times tested as seen in the Daily charts...

The stock is trading at 140 cmp; stop 129 target 160/175. MACD RSI looks tempting