Under Pressure
Our Pivot: 62.00
Our Preference: Start short selling ISL from current price and average it out till 60.10 with strict stop loss of 62.00 and profit target at 56.00 with extension towards 54.80.
Alternate Scenario: Upward penetration of 62.00 will call for 64.00.
NOTE: ISL is facing rejection from resistant trend line of its rising price channel on daily chart along with a strong horizontal resistant region.
Daily chart with supports & resistances:
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