ALEMBIC LTDLong
Alembic limited, consolidation going on
Technical- Price is in uptrend but rsi is in downtrend , signal for price to go down, the lower bottom channel may be hit around 100, currently price seems following a triangular channel, if follows then we may see small body candles formation (dozi) till 100 level, this process may go for 2 weeks . we have a strong rsi support a 46.46 level, price has not gone down below this level since April, even before corona period rsi has strongly mentioned this level, follow this level, if rsi hits this level , we may expect a reversal. one can add between 99-103, for target 122, 140.
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Disclaimer
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.