The scrip can go either ways. If going in bearish mode, The bears can manage to retrace the scrip back to its default surge start..
Chances of bearish reversal due to:
1) %william near overbought situation and showing downward trend although yet to see confirmation
2) Evening star candlestick pattern in play
Bulls again taking control after breakout and sudden...
The stock has given a powerful breakout and as per Harmonics has started it's journey towards Point D in the ABCD pattern. Keeping a Trailing SL of 88.5, can do a target of 120 in the coming near short term!
All detailed on Chart.
LTP: @ 95.85
* More Updates Later. (If needed / Wuery)
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Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
Scrip has been consolidating so shorters and swing traders could analyse and take short profits at resistance 1
Long position if scrip manages to cross 52 week-high at resistance 2
Reversal could be on cards as %william is in oversold stage and bulls might be able to take the ride
Keeping SL at support level..
Company with good fundamentals can manage to break...
Trident, a fundamentally strong counter. Giving us chance to enter fresh.
One can buy this SL of 78
Target 90, once broken we will soon get 100/130/140.
Time frame 3-6 Months.
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