Sanwaria CMP - 0.85 Looking bullish in higher time frame. One can go for Long Term Investment Trade Setup with the following entry, exit & targets. Buy Range at 0.75 to 0.95 / Stop Loss 0.50 Target 1 - 1.45 Target 1 - 2.45 Target 1 - 3.45 Disclaimer: This is my view and for educational purpose only.
SANWARIA chart is showing bullish divergence.The price may go up short term.
Support is at 11:15, target 15.50 in short/ intermediate term.
In near term we may see 13.65 and there will be no prize for guessing 19.65 in medium term.
Next support of 8/1 exists at 12 which should hold. However a triangle is being seen in daily chart which may imply a break out in next 10 days where the next resistance will be 17.85.
Fresh entry can be contemplated if Sanwaria closes above 13.30
Sanwaria Consumer will correct down to 13/14 levels in Elliott Wave C. Then it will go up in the next degree of progressive wave. 13 to 15 should be good level to enter.