Target Price: Rs 900
Stop Loss: Rs 829
Stop Loss: Rs 829
The stock has dipped into the oversold zone on the hourly chart, as indicated by the RSI positioning. Additionally, the RSI is showing a bullish divergence on the hourly chart, hinting at a potential bullish reversal. Furthermore, the stock seems to be finding support around the previous congestion on the daily timeframe. Taken together, the technical setup implies a potential exhaustion of the current bearish trend and a forthcoming recovery in the near term.
(Rupak De, Senior Technical Analyst, LKP Securities)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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