FCEPL honours previous support levels

I last mentioned in my previous FCEPL technical analysis post that FCEPL had entered a region of historic resistance.

As things turned out, it got rejected from those resistance levels as shown below.

Since that rejection, the stock has taken support at the Rs. 63.4 level, which falls in a support zone that has been respected 12 times in the last 3 years!

Clearly this is an important level and the fact that the stock has respected it and bounced off it shows it is a good accumulation point for those who want to add to your position.