Downside Prevails
Our Pivot: 44.85
Our Preference: Short Sell MLCF below 43.50 with strict stop loss of 44.85 and profit target at 40.00 with extension towards 38.00.
Alternate Scenario: Upward penetration of 44.85 will call for 45.60 and 46.20.
NOTE: MCLF is being capped by a horizontal resistance along with a descending trend line.
Chart with Supports and Resistances:
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