From the week starting 18 April 2022 till the week starting on 10 April 2023, the stock was hovering between the price channel of 1650 and 1354.
It took a gap down for the price to slide below that channel. Post the gap down (17th April 2023), the price has subsequently recovered to form a base inside the previous channel zone.
Positive above 1520 for a positional trade.
Resistance at 1650-1720 as this zone needs to be filled. Post which, we can see strength in upward momentum.
Cautious below 1355.
Trade with a strict stop loss of 5-8%.
Not a buy/sell recommendation. Please consult your advisor.
It took a gap down for the price to slide below that channel. Post the gap down (17th April 2023), the price has subsequently recovered to form a base inside the previous channel zone.
Positive above 1520 for a positional trade.
Resistance at 1650-1720 as this zone needs to be filled. Post which, we can see strength in upward momentum.
Cautious below 1355.
Trade with a strict stop loss of 5-8%.
Not a buy/sell recommendation. Please consult your advisor.