The counter has been in a downtrend for the last few weeks. However on a daily chart it seems that the counter has formed a strong base around 2280 levels below which bears have failed to give close. During last session it formed a Doji Candlestick on a daily chart. On a weekly chart too the counter managed to hold 2250 levels, a strong weekly support area. Though the counter is trading below its short term moving averages, looking at the current chart pattern it seems that the counter may witness relief rally in a near term. At present the counter offers a good risk-reward ratio. Traders can bet on the counter for short term perspective 2300 SL 2250 TGT 2410-2435.
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