This stock trades with steady volumes on the bourses in all time frames.
Similarly, it is in the oversold zones of oscillators in average time frames.
The 52W H/L being INR 1,151.85 / 814.25
It is consistently making Higher Highs and Higher Lows.
It is standing around its support level in a rising channel.
LTP on NSE on 06/Feb/2024 was INR 1,053/- (with a high of INR 1,096.20)
It has already reached its demand zone and conservatively even if it falls from the current level to INR 1,000, it will be a good buy INR wherefrom it bounced back to reach its lifetime high.
After all this discussion, I believe the target price should be INR 1,300-1,400.
Stop Loss should be INR 900
Risk to Reward will be 1:4
The time horizon should be 9-12 months
Similarly, it is in the oversold zones of oscillators in average time frames.
The 52W H/L being INR 1,151.85 / 814.25
It is consistently making Higher Highs and Higher Lows.
It is standing around its support level in a rising channel.
LTP on NSE on 06/Feb/2024 was INR 1,053/- (with a high of INR 1,096.20)
It has already reached its demand zone and conservatively even if it falls from the current level to INR 1,000, it will be a good buy INR wherefrom it bounced back to reach its lifetime high.
After all this discussion, I believe the target price should be INR 1,300-1,400.
Stop Loss should be INR 900
Risk to Reward will be 1:4
The time horizon should be 9-12 months
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