HAPPIEST MINDS TECH LTD
Open-1438--High-1439--Low-1400—Close-1415.40 on 18.10.2021.
All-Time High---1580 made on 16.7.2021.
All-Time Low----307 made on 27.10.2020.
Recent Low---1285 made on 29.7.2021.
Support:1371.10/1354.65/1351/1327/1296/1285/1279.50/1185.
Resistance:1432.50/1460/1475/1510/1521/1537/1560/1568/1580/1660/1692/1762/2057/2535.
(Bold and underlined figures are most important)
Technically it is consolidating in a range of 1580---1285—1279.50 for some time now and breakout from the either side of the range will decide future price direction. But as long as it holds 1354.65 levels on the closing basis chances are that it could continue it’s up move in coming days and may retest its all-time high of 1580 levels or may go beyond it also. Similarly break below 1279.50 on the closing basis will push it into deep correction mode which may please be noted. Looking at the overall technical setup it may spend some more time in the range as certain important technical indicators are giving weak signal now and it may take time to improve. However it seems that upside breakout is more likely in coming days at this point of time. The long term bias is positive as of now but the short term outlook is mixed as of now.
In view of the above observation for traders, it is suggested to trade the range till breakout happens with proper stop losses and for investor it is suggested to accumulate on decline but not below 1285 with a stop loss of 1250.
NOTE: - It is a technical assessment of the stock as of now, the
technical interpretation changes with the price movement and time, therefore it
has to be reviewed at regular intervals, furthermore investors are advised to look into
fundamental, financial details of the company and last but not the least
management perception for the future of the company before taking investment
decision.
Disclaimer:-The view expressed here are solely of the
author and he is not at all responsible in any way for the outcome of the trade
you enter based on the above view.
Kindly note that make your cost your stop loss
in favorable trade and then trail it as the price move up/down
to gain maximum profit and avoid losses. Use support and resistance levels as
entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT
STOP LOSS.
Note: Price stated
here are of spot market.
Contact me for strategic guidance to enter and
exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
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Thank you for sharing your views.