Technical View:
Downtrend: The stock is in a clear downtrend.
Fibonacci Retracement Levels: Price is currently near the 0.786 retracement level (₹82.47), which can act as strong support.
Oversold RSI: The Relative Strength Index (RSI) is at 16.68, indicating extreme oversold conditions—a possible bounce-back could be expected.
Strong Resistance Levels: ₹120, ₹140, ₹180, and ₹222.
Volume: Low compared to previous peaks.
Target & Stop-Loss Levels:
1️⃣ Short-Term View (1-4 Weeks)
Support: ₹78-82 (near 0.786 Fib level)
Resistance: ₹119-120
Target: ₹100-120
Stop-Loss: ₹74 (if the price breaks below, further downside possible)
Action: Wait for a reversal signal like a bullish candlestick pattern.
2️⃣ Medium-Term View (1-6 Months)
Support: ₹78-82
Resistance: ₹140-162 (next Fibonacci levels)
Target: ₹140
Stop-Loss: ₹70
Action: If the stock holds above ₹82 and starts moving up, it could target ₹140.
3️⃣ Long-Term View (6+ Months)
Support: ₹78-82 (crucial)
Resistance: ₹180-222 (major resistance)
Target: ₹180-222 (if the trend reverses)
Stop-Loss: ₹60 (if it breaks lower, trend could weaken further)
Action: Watch for signs of trend reversal. If ₹120 is broken, strong upside possible.
📊 Final Verdict:
Short-term: Wait for a bounce from ₹78-82 with a stop-loss of ₹74.
Medium-term: Look for ₹140 if ₹120 is broken.
Long-term: If it sustains above ₹140, ₹180-222 is achievable.
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