Under Pressure
Our Pivot: 46.60
Our Preference: Short sell MLCF below 44.40 and average it out till 45.30 with strict stop loss of 46.60 and profit target at 42.30 with extension towards 41.50 and 40.30.
Alternate Scenario: Upward penetration of 46.60 will call for 47.60.
NOTE: MLCF have given bearish breakout of its ascending wedge on daily chart.
Chart with supports & resistances:
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