Broke out but returned from resistance at 180 and it is hoped that the stock closes above for long up move to 233 in medium term
Should cross 395 on closing basis for further up move
Stop loss at 61.50 and target in short term is 69.25
Support is at 127 and one can have a target of 227 in medium term
One can have a stop loss of 135 and expect to reach a target of 185 in short term.
Descending 1/2 angle encountered, minor set back should move up after a little consolidation. Support at 625
Support at 820.70. Effect of double bottom is not yet visible.
If waterbase closes above 225, in short term we may see a level of 270. Support at 202
It seems the stock will hit the roof of the channel at 810 very soon. Will we see a breakout of the channel from there? Depends on the bullishness of the stock.
Good to see Sanwaria was able to hold support at 13.80. If it crosses 15.80 on closing basis, then the stock will be out of descending angle's influence. Going ahead the next progressive targets will be 16.10 and a medium term target at 20.80. Thanks.
Tomorrow if 21.20 is held, progressive intermediate resistance levels will be 23.50, 24.35 and resistance is at 27.00. Support is at 13.80-14.00
The descent will be arrested if the stock manages to close above 135.50 tomorrow. If it remains bullish consistently, a level of 202 can be seen in medium term with occassional hiccups. Stop loss 116
And the resistance level is likely to be met tomorrow at 803. If the channel is broken, medium term target is 1050 in the run up.