SCI-2-BOTTOM'S UP - ACCUMULATE

SHIPPING CORPORATION OF I SCI NDIA
CMP: 208.80; RSI:48.50
As per wave analysis, ABC correction cycle is at its last stage and fomed a bottom. Its good time to accumulate the script, between Rs: 200 to 225 zone; stop loss: 187
Upside breakout will be confirmed once script closes above 238.5
Near Term Target 1: 280; (2 months time frame)
Medium Term Traget 2 : 330-351 (4 months time frame)

Comment:

SCI, daily circuit has been changed to 20%, It should break the upper resistance (R1) of 238.15 in coming days; Once broken and SCI closes above the R1 with higher volumes, SCI march towards 280.
Happy Investing

Trade active:

Accumulate the script at every dip, soon the script will be out of time correction box & will march northwards. Those who wanted to take new position should buy in a range of 425-435, with a stop loss of 410.