this is a monthly chart and december month is just about to start. It can be seen that stock is available at a long term support line. weekly atr is 43 points out of which 7 point is already minus. More 36 points will bring this stock to 619. Around 625-630 a strong will be obtained. But right now further downside will be less possible as we can see a long term trendline support right here. so my view is a buying can be initiated here with stoploss of 740 and target should be 700 which is making it a 1:3 risk reward ratio.
For those who are either trapped up or are interested to invest for a long time it is a good time to add in portfolio.
For those who are either trapped up or are interested to invest for a long time it is a good time to add in portfolio.