However the counter took resistance at 24.00, which was one of the major areas. But the volumes that traded on the fall cannot be considered as large. Having said that, as the counter made a swing high at 24.00, we can expect a retracement which could be a pull back in the present uptrend. Given the trend I doubt it coming down below 22.00, and if I'm right then the stock will turn above 22.00. Thereafter if we see a break out of 24.00, then the next levels of resistance will be around 24.90, 25.90 and 27.00. My Buy call for the short term will either be at the swing low above 22.00 or a break out above 24.00 with strong volumes. Since both of these have not occurred as yet it warrants a close watch. The completion of a pull back could make an easy 10 to 15% short term gain.
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