While looking at a weekly timeframe we can see that this stock had a great bounce from its previous support which marked in dotted lines and volumes are also massive around it - showing its strength. Turnaround is seen in the chart on weekly and the Price to Sales ratio looks attractive to me. Weekly TF - https://www. tradingview.com/x/0OnIVksl/ Also, the dotted line marked can also be said as Polarity Point - a point where once a Resistance (Support) level is breached, it changes its nature and becomes Support (Resistance) . Now, coming to daily timeframe - we can see that it took a trendline support from below (Dec 2021) which almost coincides with the polarity point, showing a good support. There's a short term resistance at 107 levels marked with horizontal line, so one has to be cautious before entering. . Entry Points - Current Market Price i.e. ₹106.75, and ₹99.00 Risk Free entry - After ₹114 (marked with Blue Dotted lines) Stoploss - Below ₹88 . Fundamentally the stock also looks good, so you can go for long term.
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.