The long-term charts are suggesting weakness as it struggled to
breakout and close above its multiple resistance levels as shown in
the chart above.
The daily RSI is moving in line with the prices. A fall below Rs210
levels will see the stock entering a fresh intermediate downtrend for
target of Rs190 levels.
The Rs245 levels appear to be a strong resistance levels for the
next few weeks. Any pullback should be used to exit long holdings.
Aggressive traders can sell at current levels and on rallies to Rs225
with a stop loss of Rs250 for a target of Rs190 and Rs180.
traders to sell the stock at current levels and on pull
back to resistance of Rs360 levels with stop loss of Rs370 levels for
targets of Rs315 and Rs300.
Essar Oil has shown a traingle breakout Can be sold at cmp SL 81 tgt 73,70