Consolidation noticed near trendline support zone
Bounce back is expected and stock is expected to move in upward direction in next 3-4 years
STOPLOSS : weekly closing below 2935 (-19%)
TARGET 1 - 5817 (60%) ( 24 months) ( previous high--resistance zone) --till July 2027
TARGET 2 - 8511 (135%) (48-60 months) (Fibo extension)--till December 2029
RISK REWARD RATIO
For target1 = 1:3.2
For target 2 = 1:7.2
Risk reward ratio looks highly favorable for investment purpose.
Its a purely long term investment view with time horizon of 4-5 years, not for trading purpose
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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.