1600 is the crucial level to watch out for. Go long if it is able to close and sustain above that level.
On the downside, the range around 1470-1500 could act as support which would be a golden chance to shop this counter.
Analysing historical RSI suggests that the price reversed when RSI clocks mid 70s. Currently RSI stands at 74.67. Expect a one time price reversal before the stock finally rallies past 1600.
On the downside, the range around 1470-1500 could act as support which would be a golden chance to shop this counter.
Analysing historical RSI suggests that the price reversed when RSI clocks mid 70s. Currently RSI stands at 74.67. Expect a one time price reversal before the stock finally rallies past 1600.
Those who are long should keep SL at 1600. Stay long.