The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
The stock has been trading in a range since the start of this year .
Currently stock is trading near trendline resistance, though it also created good support around 2280 levels.
Stucture of the stock is good on the higher timeframes, hance if it sustains 2280 levels, it could move towards the range upper end i.e 2500 levels and also beyond it up till 2780 levels.
