Amara Raja Batteries has been trading with a corrective bias for the last eight months and recently tested the major support zone around Rs 690 levels. The oversold positions combined with the existence of strong support around current levels indicate the possibility of a sharp rebound ahead. Traders shouldn’t miss this opportunity and create fresh longs in the mentioned zone.
PFC has witnessed a breakout from a consolidation range of late and made a new record high as well. The chart pattern indicates the prevailing uptrend to continue with intermediate dips. We advise accumulating gradually in the given range.
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