THE COUNTER HAS A VERY STORNG SUPPORT AROUND RS.32 AND RECENTLY THE COUNTER FOUND GOOD SUPPORT IN THAT ZONE. IT FORMED COUPLE OF DOJIs AND THEN A STRONG BULLISH CANDLE ON A WEEKLY CHART WHICH GIVES A SENSE THAT BULLS WON THE BATTLE AND THE COUNTER MAY WITNESS STRENGTH IN NEAR FUTURE. HOWEVER THE COUNTER HAS A MINOR HURDLE AROUND RS.38 LEVELS WHICH ONCE CROSSED ON A CLOSING BASIS THE CHANCES THAT THE COUNTER KISSES RS.44-48 LEVELS ARE VERY HIGH. RISKY INVESTORS CAN TAKE EXPOSURE AT THIS LEVEL. ALTERNATIVELY CONSERVATIVE INVESTORS CAN WAIT FOR THE COUNTER TO CLOSE ABOVE RS.38.
WE RECOMMEND TO BUY AT RS.36 SL RS.31.5 ON CLOSING BASIS TGT RS.44-48
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