The counter took a nosedive after kissing 250 mark. During last week it formed a Doji candlestick pattern on a weekly chart with the burst of volumes suggesting the bears power getting exhausted. The counter started the week on a very positive note and it formed a strong bullish candle on a daily chart. Looking at other technical indicators and the chart formations on daily as well as weekly time frames we are of the opinion that the counter may witness bounce back. Traders can utilize every decline towards 80 levels as good buying opportunity with closing SL of 74 for the TGT of 100-108 in a short term.
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