Prices broke out of its strong supply zone (3044 - 3053) on 5th Jan and it has seen acceptance at that zone. This confirms a Trend Reversal for the stock. Price is expected to touch 3187. Any dips in price till 3050 should be looked upon as a buying opportunity. The trade gets negated on an hourly close below 3040.
1hr RSI breach of 56 suggests signs of weakness. The lower levels of support around 238 are expected to be tested going forward. The trade gets negated on an hourly close above 249.
At 464, price got rejected from a strong earlier supply point, and today's initial movement on the stock was weak, so the stock is expected to head lower going forward. First target 450, and subsequently 442. The trade would get negated on a decisive 10min close above 460.
The stock's recent rally has been capped at the 61.8% FR (680) with the RSI making lower peaks showing weakness. Expecting the current range bound move (680 - 665) to resolve on the down-side. The target is 645. A 15-min close above 680 would negate this weakness and the trade.
Pullback to the 38.2% and prior high after a Trend Change, making 8033-8020 a bounce area. Low risk buy here for a target of 61.8% FR (8130). There's also a Gap area (8128-8136) co-inciding with the 61.8% FR. Below 8020, the long gets negated and we can see 7960.