Price at the trendline and horizontal support line, with a low risk stop at yesterday low of 1070, we're buying it for an initial target of 1145, and then eventually if it is to continue with its trend, we could see 1200!
Price is testing its channel support line with the RSI also around the Oversold level. Good entry point technically, but confirmation signs from the bulls are yet to be seen! An entry with a reduced position size possible at this juncture since confirmation is yet to be given for a BUY. Next demand level seen around 1025!
So the negativity after a disappointing Quarterly Results show seems to have been factored in the price, bears have brought the stock back to 2018 lows around 2600! First signs of bulls visible today, but is it just some short covering? Let's find out! Trade looks rewarding compared to the risk involved, I see a BUY with a Stop loss of 2600 for a target of 2900 atleast!
The 61.8% Fibonacci Retracement Golden Level has proven to be quite reliable in the stock history as a supply point. For now, price is falling from the 61.8% Level, so we should short with the day's high as stop loss level. Ideal target 270, but low risk takers can exit around 280!
Strong up-trend and the up-trend has been seen taking a bounce from the 23.6% Retracement Level, and is today bouncing from the same. Price expected to touch 1080 first, and investors can hold the stock for a new high in the current trend.