On daily charts, the stock has been in a consolidation mode since many months. Today it has taken a strong resistance so we can expect it to test its support of 1690. The SL should be 1758 daily basis. However, if the stock breaks 1690 then we can expect it to test its previous support, ie 1531. Banknifty is not performing from last several months and one can expect it to under perform due to global cues.
Note
Target achieved!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.