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This is another share i am currently holding after the initial profit taking, that made me some money & the current leg is nicely descending to 61.8% around 12.20Rs which should act as a reversal area on the pull back completion. So buyers would be re-entering, please do take note of for some volume surge when price hits this area. And a possible future price to hit around Rs16~17 this year Highs in Jan where we will see some Res. Do not expect quick profit but if it happens do not be surprised as well.To the downside we see Rs11 & 10 to act as good solid support, but if we see major trend reversal and ASI trending below 5250 you have to expect further down as we do not want to entertain unexpected scenario if it do come our way & to preserve our capital.
However the CMP has not successfully penetrated 38.2 Fib levels, so we would like to see some action around next week or so to close below for possible window of opportunity to test 50% & 61.8%.
Should we see Market turning Green, then current minor support level (Recent LOW) should be good enough to hold.
TAH
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However the CMP has not successfully penetrated 38.2 Fib levels, so we would like to see some action around next week or so to close below for possible window of opportunity to test 50% & 61.8%.
Should we see Market turning Green, then current minor support level (Recent LOW) should be good enough to hold.
TAH
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