Market has seen gap up opening of NIFTY last few weeks with improved
exponential momentum. It will eventually subside due to proft booking
at ATH levels thus correction to fill these gaps. The expected levels of
correction are 15870 to 15650.
Revenue of the company from Yr 2017 to 2021 have significantly remained range bound.
The stock has annual pattern of Rise & Fall which makes it difficult to break previous highs.
The stock needs healthy correction upto 130-150, create support levels, gather strength,
in absence of which it may see the repeat of 2018/19.
XPRO India has historically always corrected from its ATH levels,
but the current uptrend has gone beyond its correction pattern
being in UC due to overall market euphoria. Once correction sets
in, expect levels upto 240-210 in few weeks time.
From long term or short term perspective, this stock has to correct to 130-140 level, to be able to see strong & healthy uptrend to break resistance @200 which hasn't been breached since 2018. Lack of volume and strength to breakout. May witness short rally upto 205 before declining.