Buzzing stock-XCHANGING stock heading for 40 rupee level

Xchanging Solutions Limited share technical analysis

Xchanging Solutions Limited share technical analysis

XCHANGING stock today closed at 50.25 rupee level with almost 12% drop on NSE. Stock was top loser on NSE.   XCHANGING stock technically is in downtrend and we saw breakdown and trend change at 65.3 rupee level. On downside 52.75 was first support as well as target zone which got achieved today. Below 52.75, stock will have next support around 40 rupee level which will be its next target zone. Traders must stay away or exit from stock and wait from 40 rupee bottom for fresh long entry.   From long term view, stock is in downtrend and in process of bottom formation. We saw high up to 105+ in Aug 2016 and from then continues sell off in stock. XCHANGING stock weekly chart showing oversold prices with bearish price pattern so expect last leg of downside and then upside up to 75 to 105 with long term view.

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Pramod Baviskar

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