Upside Prevails
Our Pivot: 204.46
Our Preference: Buy MCB above 214.95 with strict stop loss of 204.46 and profit target at 232 with expansion towards 246.
Alternate Scenario: Downward penetration of 204.46 will call for 192.
NOTE: MCB is getting support from a rising trend line along with a horizontal supportive region. Weekly Stochastic is also trying to generate a bullish crossover and it have completed its weekly 61.8% correction therefore its expected a further advance in it.
Recommendations:
Buy above 214.95 with target at 232.
Weekly Chart with Supports and Resistances:
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