Solar Industries seems to be bouncing back after retesting the confirmation levels of a Rounding Bottom Formation Completion. With the neckline close to 860, a long play can be considered with a stop at 860 and Targets of Rs. 1000 and 1130, if it begins moving up with high volumes.
The stock however, is still moving on small volumes and needs confirmation in terms of above average volumes accompanying stock prices. Till then the stock can be added to the watchlist and monitored at regular intervals.
Disclaimer:: The article presented herewith is just an educational assessment of the chart structure of Solar Industries. Please do your own research and consult your financial advisor prior to acting on the information presented herewith. The author does not intend to set forth this article as a recommendation to buy or sell this stock and has currently no position in the stock.
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