It has been observed that the price action breaks out above the 6 months trendline and confirmed the breakout by re-testing of trendline by forming a bullish candlestick. The breakout is also confirmed by the RSI Bullish Divergence. Therefore, price action is expected to go further up from here on. T1-17.5, SL 14
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Yes, the stop loss got hit in the recent fall in the market. But I still feel 13.25 can play a good support as the stock has potential to further move up due to its previous strong breakout above the trendline.
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Note: The price action is still bullish until it makes new lower low by going below 13.
@ritenjee, As per my analysis, I would suggest to enter tomorrow with SL 13.6. If you're conservative trader then enter once price action goes above 15. If you would to hold for longer term then start accumulating with SL 13
what is the target expected here by exit septemeber...or more fall possible from monday. ??
NeeteshJain
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@4576c7aa2bb04832b704aee8c03904, If you're still holding it then you may continue to hold it till September, it will rebound once the accumulation from big players will be completed. It may dip further but once it is above 13 then it will show good signs of rebounding and escalating.