The Fib pattern suggests that MSFT could now test 465.
Very lucrative from risk reward perspective. Should be able to hold 870 at these levels. Going forward expecting it to touch atleast 1000.
Trading at the 61.8% FR level of the rise and testing the 200 SMA along with the previous lows placed around the 272-270 levels. Should go to 290 first and then should test 321( the lower and upper end of the gap areas coupled with Fib levels). Stop Loss is 270 (Daily Close).
Making a Double Top on the Daily Chart. Expect it to test 241.
Testing its multiple supports placed around Rs.684 (38.2% FR, dual moving averages), should give a bounce to at-least 751. Above 751, it can then retest the high of 793.
Breakout from previous peak and the Trendline. Should have an accelerated up-move to 478.
Before the results kick in, the trade looks very lucrative from a risk rewards perspective. Its bang on support and if 420 holds, the scrip could witness a bounce in the near term to around 450 and then to 485. Stop loss of 420 (Daily) would negate the trade and infact it will stop and reverse trade !!!
The scrip is poised to register a Weekly Close below its 10 Week EMA placed at 216. Next support for the scrip is placed at 127.