If we look at the above chart we observed accumulation after downtrend from 19 Sep, 2008 putting strong support near 50.50 area. Last Friday, we saw a strong hammer on support suggesting price will going higher towards its resistance near 56 area. Today we saw confirmation after bullish candle formed and confirming that bottom is placed and now price start to move higher. We can buy this share at tomorrow opening price targeting 56- 56.50 area. Stop loss in this case should ideally be 50.90.
muhiuddin
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