Investors may enter this stock with a four to six-month perspective with target price of Rs 115.
The 9,640 and 9,675 levels will act as immediate resistance for the Nifty50, while supports should come in at 9,550 and 9,510 levels.
Pattern analysis shows the market is attempting to achieve a clear breakout from the rising trend.
The market is an uncharted territory. The 9,620 and 9,735 levels may pose resistance.
9,525 and 9,580 will act as immediate resistance while supports will be at 9,470 and 9,430.
As we enter the expiry of the May series, 9,380-9,400 zone remains critical to watch.
The 9,425 and 9,450 levels will continue to pose resistance going ahead.
No structural weakness is expected and the 9,380-9,400 zone will act as important pattern support in the short term.
Going by pattern analysis, there is formation of a sharp wedge on the close charts.
Overbought indicators and expiry week will dominate any bias the market may show.
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