Rebound Insight
Our Pivot: 110.30
Our Preference: Start buying HASCOL from current price and average it out till 119.10 with strict stop loss of 110.30 and profit targets at 154 and 162 initially with extension towards 178 and 192.
Alternate Scenario: Downward penetration of 110.30 will call for 106 and 100 Rs.
NOTE: HASCOL is moving in a downward price channel and right now its getting support from supportive trend line of said channel along with a horizontal supportive region. Weekly momentum indicators are ready for bullish crossovers and this would start pull back which would lead prices for correction of current bearish rally towards 162 Rs. Penetration above 162 will call for 178 and then 192 Rs.
Weekly Chart with Supports and Resistances:
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