Stock can go in both direction, the advanced charts patterns will capture the move and will give the retraced targets, entry can be done on completion of the cypher pattern's D point for normal targets of 50-61% retracement from D. Extended target of 127% from left shoulder (Of H&S) and Previous Structure High repectively
Breakdown from the channel (with volume confirmation) , indicating more downfall;Sell:395, Target: 295, SL: 445
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
As can be seen the price is in the support zone of the cloud, weaker than the broader market Nifty. However if you see the historic price move the stock has compounded wealth. As a result you may get attracted to add at this level. However it could be a trap for retail to get sucked in. Please wait and watch for next couple of week to see from where the price...
The stock has formed a big red candle taking a support at 75D EMA which is also it mid term personality and a reversal can be expected. There's also a weekly demand zone in the range 500-510.
