ICRA LTD. is ruling at 993 levels. It has been over 1500 without any fundamental reason.
We see the stock price weak in next few months or even for more than a year from now on.
Exits from investment based positions are recommended.
The stock is a 100% exit if breaks 975 level. And closes below 955 on weekly basis.
It will take support at 790 only then after.
In the given chart you can see how it risen with support of a cup and handle pattern span over 1.5 years.
Below Rs.790 it will halve from the current levels.
The 975 level is a most important double bottom support level.
We can relate the stock possibly resuming downtrend with a fundamental development of the company trying to expand in to European markets by recent tie up with a Portuguese rating firm.
We see the stock price weak in next few months or even for more than a year from now on.
Exits from investment based positions are recommended.
The stock is a 100% exit if breaks 975 level. And closes below 955 on weekly basis.
It will take support at 790 only then after.
In the given chart you can see how it risen with support of a cup and handle pattern span over 1.5 years.
Below Rs.790 it will halve from the current levels.
The 975 level is a most important double bottom support level.
We can relate the stock possibly resuming downtrend with a fundamental development of the company trying to expand in to European markets by recent tie up with a Portuguese rating firm.
