Your apprehensions related to overhead resistances are quite valid. There are resistances at the price ranges you mentioned. Here the chart presents a first entry point kind of opportunity with stock trying to consolidate above its 52 weeks high. Next logical expectation is to see it cross overhead resistance at 1200 plus kind of levels and stretch a big higher, or maybe consolidate around 1200 kind of levels. As you can see, since 2022, two attempts at 1200 have already been made without success. With an improving fundamental picture, and slight change in preference in markets for “quality” companies, my expectation is that 1200 range could be crossed in near future. We have had a very hot summer and all these AC and cooler companies will report bumper sales.
My strategy is to play Symphony for quarterly results, and then review if the picture has improved to the extent to consider it for longer term. Dips to 200 dema or near term supports should be observed to see how the stock price behaves.
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