Downside Prevails
Our Pivot: 118.65
Our Preference: Short Sell ISL below 117 with strict stop loss of 118.65 and profit target at 113.80 and 112.
Alternate Scenario: Upward penetration of 118.65 will call for 120 and 121.50.
NOTE: ISL closed below its major supportive region of 117 Rs and now that region would react against any bullish run. Prices are also capped by a horizontal resistance at 117.
Hourly Chart with Supports and Resistances:
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