Just about 2 weeks back we saw Hi-P approaching the 1.10 key resistance level where we expected some selling pressure to return…
Some downside targets were drawn towards 0.900 as trend was still weak and sellers looks set to return..
See what I mean below..
Just last week, indeed when the market weakened, we saw sellers coming back and targets were reiterate when the 1.00 support gave way too…
All the way to 0.900 target as seen..
Over the past few days, we have traded lower towards the 0.88 – 0.90 support and some short covering happening…
But would want to be cautious of more bearish price actions below 0.88 which can see targets revised lower…
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