Purchase should be in the green accumulation zone. SL to be placed at 8%. Fundamentally strong. Momentum is +.
The current region is a high supply area Indicated by the 2 long tails created. Also the low 80 for the current trade is a golden cross between wma 50 and 100, so a short term technical buy. But nevertheless keep a SL at 80 and hold till 94. The Risk to Reward is quite attractive with a downside at 4% and upside is at 16% making 1:3 R2R ratio quite favorable to us .