Stock broke its major price support around 500 levels a month ago [ Gap down opening with a lower close] and same levels are now acting as resistance for the stock.
200 week Moving average also coincides with the price resistance.
Only decisive break above this stock can bring a up-move in the stock, till then bearish view in the stock stays intact.
Next support for stock comes around 440- 425 levels And i see the major support for the stock lies at 350-340 levels.
200 week Moving average also coincides with the price resistance.
Only decisive break above this stock can bring a up-move in the stock, till then bearish view in the stock stays intact.
Next support for stock comes around 440- 425 levels And i see the major support for the stock lies at 350-340 levels.
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