ZEE TELE 297.75
A POSSIBLE RANGEBOUND IN NEAR TERM

This stock will surely fall in possible rangebound between 329 and 260 levels in the coming trading session. From the rally of 259.40 to 328.90 is retraced maximum at 61.8% which is at 286, but still 259.40 is valid support one as long as it trades below 302. Once it sustain above 302then 329 and beyond 329 is quite possible. Now below 286 it'll retest the 259.40 and above 302 it'll test 329. The rally that we saw from the level of 189 to 328.90 is still valid one as long as it trades above 260. Ove the last couple of trading sessions it tested the lower band of BB twice and today it rebounded very well. Lower band of BB is placed at 61.8% fibo support of 329-259. Daily RSI is just triggerd the mid-point level. And even u can see the break of bear line on RSI charts. Even Daily Momentum is also getting carried over with Bulls.