In the past couple of months’ downfall, the stock lost almost by 20-25 percent from its recent swing high.
The stock has recaptured its 50 and 100-day SMA which signals positive bias.
Since September 2021, the stock is trending down forming a series of lower tops and bottoms indicating short to medium term down trend.
With Friday’s close, the stock has decisively broken down its two months crucial support zone of Rs 348 level on a closing basis indicating further weakness.