Further continuing downtrend, The technicals of indigo paints seem weak. A down move of approximately 9.5% is expected. It recently formed head and shoulder pattern and also Fibonacci retracement levels concurs with the former statement that it is expected to fall (roughly to around Rs 1350). 1350 being a important support lets se how the stock reacts there if it breaks it, a further fall is expected.
What do you think about this? Please let me know in the comments.