is currently trading at 5791.50. Based on the daily timeframe the stock has stabilized after a major dip earlier in the year and is currently moving in a broad sideways consolidation pattern. Immediate support the closest floor for the price is around the 5700 mark. The stock has found buyers in this area recently. If the price breaks below this the next major structural support is lower around the 5300 - 5400 zone. Immediate resistance the stock faces a tough ceiling between 6100 and 6200. It has tested this higher zone multiple times over the last few months but has consistently faced selling pressure and reversed. The bullish play watch for a strong clear bounce off the 5700 support level for a potential short-term entry. For a safer long-term buy wait for a decisive breakout above 6200 with strong volume. The bearish risk if the daily candle closes firmly below 5700 the stock could easily slide down to test the deeper 5400 support levels. The stock is currently lacking a strong dominant trend. It recently faced rejection near the 6100 resistance area and is now sliding downward to retest the 5700 support line. The current price action shows indecision in the market with the price stuck in the middle-to-lower half of its trading range. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.

#EquityResearch#TimeToExit#TechnicalViews#WatchOutFor

1,027 likes·50 comments