the stock is in the buy zone ideally. however it has broken below the triangle pattern as well as darvas box will be shorting this counter from higher levels will be adding subsequently as the trade goes in my favour.
the stock is seen to be consolidating after a range breakout. since market is in correction mode, forecast a consolidation for next 5//10 days. baised on the upper side but would recomend to take positions via options strategy that too by selling otion rather than buying so as to take advantage of time decay. more positions can be adde subsequently.
CHECK OUT THE CHARTS OF BPCL, HPCL AND IOC. ALL CAN TURN OUT TO BE GREAT WINNERS AHEADD IN THIS FALLING MARKET
the tock is taking support on its long term trend line accumulate on dips to a decent returns. ++ DONT RISK MORE THAN 2 % OF YOUR CAPITAL.
buy immediate for 6 months span. target 200 % from 380 levels
Lookout for good trade opportunities in nect couple of days
Perfect triangle pattern formed.... keep on radar for a breakout