SIYSIL - WEEKLY CHART ANALYSIS
After long consolidation of one and half year it has finally broke out the down trend line with volume support.
A decent contraction is seen on the left and up volumes shows accumulation.
Stock is trading above all its key moving averages.
A pilot position can be initiated here and another once it close above 661 level.
The supply zone ahead is the all time high zone 743-790 levels.
As per the trend based fib initial targets can be the supply zone / ATH levels (743-790) and then if it close with new ATH then 845 - 1050 - 1300 should be the levels in the long term.
This view invalidates if the stock close below 480-500 levels (swing low) on a weekly timeframe.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
A decent contraction is seen on the left and up volumes shows accumulation.
Stock is trading above all its key moving averages.
A pilot position can be initiated here and another once it close above 661 level.
The supply zone ahead is the all time high zone 743-790 levels.
As per the trend based fib initial targets can be the supply zone / ATH levels (743-790) and then if it close with new ATH then 845 - 1050 - 1300 should be the levels in the long term.
This view invalidates if the stock close below 480-500 levels (swing low) on a weekly timeframe.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
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