For the last few times, the stock took support at the green trend line and now it has broken it and is below both the 10 and 20 EMA. Although I see a crossover of 10 and 20 on the upside we need to wait till it enters back into the trendline. My suggestion wait till it breaks 945 for a long position.
Until budget is announced there could be lot of profit booking or keeping money aside temporarily but results of companies seem to be good so expect some sort of sideways to positive movement with high vix. Sorry target should be supply zone and not demand area (error).
Looks most heavy weight stocks are right at support, now probably since we are in a bull market we could bounce from here or could see a further fall. Probably big money putting money of the table until budget is decided, they are trying to reduce the exposure and booking profits in futures.
If nifty breaks the red channel that is a bullish continuation and if it breaks the yellow line either in the red channel or even outside it is a clear indication of a further downtrend. The entry to the red channel and sustaining there with the support of the yellow line could be seen as consolidation.