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.

📢 Announcement: We're on WhatsApp – Join Us There! 

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.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →