PL Technical Research: STOCK RADAR:- NAVIN FLUORINE

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

STOCK RADAR:- NAVIN FLUORINE cmp: 3465, the stock has witnessed a significant erosion from the peak zone of 4950 levels and has arrived near the important support zone at 3350 levels of the 200 period MA on the weekly chart and also near the 38.20% retracement zone of the recent rally on the weekly chart. At current levels, with the RSI hovering near the highly oversold zone, one can expect for some pullback with the overall bias improving only after a decisive breach above 3780 levels is established to bring some conviction for further rise. At the same time, a decisive breach below 3200 zone shall further weaken the trend and can anticipate for further slide.