The price action has reached to the bottom and now we have noticed a breakout from a prevailing downward trendline
which indicates a positive sentiment emerging in the price action. I have also noticed a MACD
crossover and also RSI
getting out from oversold areas. This also indicates positive sentiments. On weekly and Monthly chart I noticed a double bottom
formation, that signals a trend change.
It is trading at good risk reward
and it is wise to take positions on current levels.
Target 1 : 600
Target 2 : 630
Stoploss : 540