FSL taking support at Channel Bottom and Bouncing...
Stock: Firstsource Solutions Ltd.
📎Chart Pattern: Ascending channel with a recent pullback.
✅Key Levels:Entry: ₹380.35
✅Target (T1): ₹423.10
✅Stop Loss (SL - Closing Basis): ₹344.70
📎 Observations:
✅Stock is consolidating within a rising channel and has bounced from its lower trendline.
✅The 50DMA(Green) and 200DMA(Yellow) are acting as strong supports, suggesting bullish momentum.
✅RSI and volume remain aligned with the uptrend.
📎Risk-Reward:
It is favourable for swing and positional traders. Further additions above 423 would be possible if we get a clean breakout with volume. EveryPullback to 50/200 DMA is a buying opportunity.
⚠️Overall Market sentiments are weak and we are trading against the trend.
Disclaimer: This analysis is for educational purposes only, not financial advice.
📎Chart Pattern: Ascending channel with a recent pullback.
✅Key Levels:Entry: ₹380.35
✅Target (T1): ₹423.10
✅Stop Loss (SL - Closing Basis): ₹344.70
📎 Observations:
✅Stock is consolidating within a rising channel and has bounced from its lower trendline.
✅The 50DMA(Green) and 200DMA(Yellow) are acting as strong supports, suggesting bullish momentum.
✅RSI and volume remain aligned with the uptrend.
📎Risk-Reward:
It is favourable for swing and positional traders. Further additions above 423 would be possible if we get a clean breakout with volume. EveryPullback to 50/200 DMA is a buying opportunity.
⚠️Overall Market sentiments are weak and we are trading against the trend.
Disclaimer: This analysis is for educational purposes only, not financial advice.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.