This analysis is been done on 15 minutes TF. CMP 696 INR
A long position could be taken if 700 INR is crossed.
Once 700 INR is sustained the target is 710 / 721 INR, a resistance zone.
If the above resistance is taken out on upside then targets could be 729 / 734 / 744 INR
If the stock breaks down from the resistance zone, then it could take support at 714 INR or 726 INR
Please note that this analysis is based on my own study and experience in the market and it is strictly for educational purpose with no profit motive, hence please consult your financial advisor before you take any position, I will not be held for any losses.
Thank you
Happy Trading.
A long position could be taken if 700 INR is crossed.
Once 700 INR is sustained the target is 710 / 721 INR, a resistance zone.
If the above resistance is taken out on upside then targets could be 729 / 734 / 744 INR
If the stock breaks down from the resistance zone, then it could take support at 714 INR or 726 INR
Please note that this analysis is based on my own study and experience in the market and it is strictly for educational purpose with no profit motive, hence please consult your financial advisor before you take any position, I will not be held for any losses.
Thank you
Happy Trading.