Rebound Insight
Our Pivot: 7.40
Our Preference: Start buying PIBTL above 8.70 and average it out till 8.10 with strict stop loss of 7.40 and profit target at 9.80 with extension towards 10.75.
Alternate Scenario: Downward penetration of 7.40 will call for 6.80.
NOTE: PIBTL is moving in a descending wedge on weekly chart and its trying to bounce back after getting support from a strong horizontal supportive region and supportive trend line of wedge.
Chart with supports & resistances:
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