This scrip had corrected almost 20% from its recent high and the volumes too are drying up. Investors/ traders should see this as a opportunity as it is a fundamentally sound scrip. It looks like it's bouncing back from the 50MA in daily TF and 21MA in weekly TF, so there were multiple supports at the CMP. Traders may consider entering the scrip if there's a follow up buying in coming days with SL of previous swing low which is around 8% down.
I think according to weekly chart it shpuld be purchased when RSI -atleast 44% at that time positive reversal will occurs BUY AT 880 surely it will come wait then eat
Raghulramdoss
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@debonairHead96171 Even CMP looks good to go long, it may or may not retrace to 880 level. One can enter now and may average their position at 880. I do think we should use RSI just to confirm our trade, we should initiate or avoid trade just because of RSI unless it is in the overbought/oversold zone or there was an divergence.