Turning Down
Our Pivot: 33.86
Our Preference: Start short selling MLCF below 31.15 and average it out till 32.60 with strict stop loss of 33.86 and profit target at 28.20 with extension towards 25.60.
Alternate Scenario: Upward penetration of 33.86 will call for 34.60 and 35.40.
NOTE: MLCF is being capped by resistant trend line of its bullish trend channel.
Daily chart with supports & resistances:
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