PSO short term analysis 17 Nov. 2023

Major Resistance ahead : PSO is being capped by a strong resistant region at 167 Rs therefore it's recommended to post trailing stop loss on existing long positions.
Bullish Bias above 167: Breakout above 167 will call for 189-192 Rs region in coming days.

Unlocking Potential: PSO's Next Flight!

PSO is gearing up for a thrilling ascent, currently facing a formidable challenge at the resilient 167 Rs mark. Despite this resistance, the potential for a soaring journey to the 189-192 Rs realm looms large if it triumphs in closing above 167.

Embarking on its third venture, PSO has showcased two successful rides—from 108 to 136 and another from 141 to 167. Now, with fresh ambitions, we've set a new target. The catch? It's conditional. A robust horizontal resistance at 167, coupled with a resistant trend line, forms a challenging duo. The excitement? Both are converging right at the pinnacle of the current candle.

The plot twist: Should PSO conquer 167 Rs in its closing act, the stage is set for a spectacular performance, targeting the 189-192 Rs zone. While momentum indicators cheer in bullish unison, our recommendation is to stay vigilant, eyes peeled for the breakthrough above 167.