RECOMMENDATION - BUY AT CMP
TARGET - 148 , TIME - 2 MONTHS
=> The downtrend seems to be arrested with the formation of a higher top and higher bottom formation.
=> A breakout of the downward sloping trendline.
=> Positive Divergence on RSI
Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.
TARGET - 148 , TIME - 2 MONTHS
=> The downtrend seems to be arrested with the formation of a higher top and higher bottom formation.
=> A breakout of the downward sloping trendline.
=> Positive Divergence on RSI
The positive view stands intact as long as the stock trades above 119 on a closing basis. Below this level, the perceived higher top and higher bottom formation would cease to exist and hence long positions would not be warranted.
Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.
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