This stock was recently listed nearly 50% premium over the IPO issue price of 207. Since its listing, the stock is in continuous downtrend as seen on chart. However, from past few days, we can see a retracement coming from levels of 150 in the stock. RSI positive divergence is also visible. 175-178 is a strong supply zone above which the stock can move quickly towards 193-195 levels which is its 38.2% retracement of downtrend.
Study the chart and kindly trade as per your own analysis.
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As explained- above 175 , the stock raced towards 194.85
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227 from 175
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238 from 175! 250 will act as a major resistance
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V shape recovery. No big retracements at all. 290 from 175!