Key Points to note:
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1. Stock has been in a fall since Dec '25 without reasonable retracement, indicating oversold condition.
2. Currently it's taking support at the 50% Fibonacci retracement level.
3. This level is also the support of a range that it's been trading inside of. There was a breakout attempt, but it failed and price got back inside the range
4. There is also hidden divergence that RSI shows, which means a loss of selling interest.
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Keeping in mind the above points, the foll. trade
Entry CMP, SL 680, Tgt 820
Disclaimer: This publication is NOT a Trade recommendation but only my observation. Do your own analysis before entering your trades.
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1. Stock has been in a fall since Dec '25 without reasonable retracement, indicating oversold condition.
2. Currently it's taking support at the 50% Fibonacci retracement level.
3. This level is also the support of a range that it's been trading inside of. There was a breakout attempt, but it failed and price got back inside the range
4. There is also hidden divergence that RSI shows, which means a loss of selling interest.
------------------------
Keeping in mind the above points, the foll. trade
Entry CMP, SL 680, Tgt 820
Disclaimer: This publication is NOT a Trade recommendation but only my observation. Do your own analysis before entering your trades.
------------------
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Disclaimer
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.