MESSAGES

after surging to its peak near rs 670 mark on february 1, 2024, borosil renewables has undergone a notable downturn, witnessing a substantial decline of around 28 percent. however, over the subsequent 26 trading sessions, borosil renewables has demonstrated resilience, avoiding further downturns and instead consolidating within a range spanning from rs 480 to rs 515. from a technical perspective, theres been the formation of a bullish ab=cd pattern evident on the daily chart of borosil renewables within this specified price range of rs 480-515. interestingly, this range aligns with the 0.618 percent retracement level of a price swing observed between october 2023 and january 2024, as depicted on the chart. moreover, on the daily scale, the relative strength index (rsi) has surpassed its bearish trendline, indicating a potentially attractive buying opportunity. consequently, it may be prudent to consider buying within the range of rs 510-525, targeting an upside of rs 600, while setting a stop-loss near rs 475 on a daily closing basis.