The stock is consolidating within the descending triangle pattern. Further observation is needed until a proper breakout to either side occurs.
If taking a trade at these levels to manage risk, the stop-loss can be placed below 169.50 or previous higher low of 170.25.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
If taking a trade at these levels to manage risk, the stop-loss can be placed below 169.50 or previous higher low of 170.25.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
Comment:
07/03/2023
The stock reached Fibonacci retracement of 0.65 and 0.618 levels (golden ratio). Proper support from buyers is yet to be seen.
The stock reached Fibonacci retracement of 0.65 and 0.618 levels (golden ratio). Proper support from buyers is yet to be seen.
The stock has broken below the descending triangle pattern indicating a bearish reversal. It is possible that it might try to find support around Rs. 150 levels near Fibonacci retracement of 0.65 and 0.618