In the time frame of 1 Dec 2016 to 1 Oct 2018 notice the price gets doubled and RSI in negative divergence. (Refer rectangle boxes). This let to the distribution phase for the coming year.
Volume supported up-move in the month of May. RSI has now broken out of negative divergence levels and now making HH. MACD looks bullish monthly, mildly bullish weekly.
Daily chart looks bearish, might get below 377 level. Personally I feel this is not a good time to enter as it is taking major resistance around 400.That's why taking a Neutral stand for now.
Good buy if breaks the channel and sustains around 404-412 WCB/MCB, SL 365 TG 500+, RR 2.
Can do buy on dip once entered in the trade, but I think it'll be a long journey to the target.
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