1. Technical Analysis & Indicators
Support Levels: FIL shows a recent low around 2.866, which serves as a key support level.
Resistance Levels: Immediate resistance is seen at 3.395, with a more significant resistance level around 5.711, which aligns with a previous price peak.
Moving Averages: The 5-day moving average is slightly below the 10-day moving average, indicating a minor bearish trend, although the recent price action shows signs of recovery.
Volume Trends: Trading volume has been relatively stable, with recent increases suggesting renewed interest at current price levels.
2. Target Levels
Target 1 (Short-Term): 3.500 – A short-term target as FIL approaches its immediate resistance.
Target 2 (Mid-Term): 4.200 – An intermediate target if the price breaks above the current resistance with sustained momentum.
Target 3 (Long-Term): 5.700 – A more extended target, aligning with the upper resistance level from previous highs.
3. Trade Signal Recommendation
Buy Signal: With a slight uptrend in the price and increasing volume, there is a potential for a short-term upward move. A break above 3.395 could confirm bullish momentum, making it a good entry for cautious buying. However, consider setting stop-losses around 3.000 to manage risk.
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