Please strictly avoid any fresh Buying. And this post is specifically for the long term investors. I assume this may soon start a downtrend because on monthly time frame this is not all promising. It has recently touched the Monthly High TL. The downside reversal is confirmed by a Bearish Wolfe Wave.
May be in short term it may bounce till 198. But better avoid until and unless no clear breakout is seen. Rest all updates will be given in the update idea section
Chart & Analysis By - ADARSH DEY
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Even PFC Looks Bearish.In fact all power companies seems Bearish. So please be cautious and wait for a proper breakout before investing.