At the turn of 2023 the script showed some hyper move. Since than it has been in consolidation. Start of the May also showed the attempt to break away but it was restricted by the 200 SMA on weekly chart.
The security has traced back to Fib. level of 0.618, which is a healthy level, and shown some reversal signs on Hourly charts. Therefore we may initiate a long position at Current Market Price (CMP). Stop loss should be placed under 1.25.
Wishing you a profitable trading.
The security has traced back to Fib. level of 0.618, which is a healthy level, and shown some reversal signs on Hourly charts. Therefore we may initiate a long position at Current Market Price (CMP). Stop loss should be placed under 1.25.
Wishing you a profitable trading.