The above weekly chart showing bullish outlook for short to long term. Breakout yet to happen. As per premature entry we are recommending the stock. Heavy volumes witnessed in the buy side. Strong positive divergence witnessed in hourly, daily & weekly oscillators. The stock now started moving towards 38.2% and 50% retracement level of fall from 273 to 45.
As per wave “Wave 3/c will start in other words wave 2/b got completed. The contracting triangle breakout yet to happen if that gets confirmed then it opens to 110 – 160 – 180 levels.
Crucial support placed at 70 levels.
Buy the stock with the stop loss below 70 [Closing].
Target: 110 (Short Term) – 160 (Medium Term) – 180 (Long Term).
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