The stock is seen reversing from the retracement on weekly charts and a change in the trend backed by good volume is a positive for the stock.
Trader can keep a stop loss at 566 with a target at 670 levels.
The stock has formed a double top formation on weekly charts and looks bearish for short term.
There has been good volume on the day the stock made the high of 617.45 indicating sell off in the stock.
We can expect the stock to fall at levels of 500/490 and a reversal could be expected from then on. Make sure to keep a Stop loss at 618.
