Idea reached the high of Rs.13.8 ignoring the Fundamentals and once people started realizing its worth, it started to fall.
Too many indications which shows adds up to the fall:
1. Weak Fundamentals
2. Trading near the downward channel which started in 2015 and Idea is not strong enough for the breakout
3. It slipped down from the Orange Line(Trend line)
4. 200 days EMA is broken
5. Decreasing users
After considering the above,
We can see Idea at Rs.5 levels very soon.
Idea took the rally from Rs.5 level after the false news of Amazon planning to invest in Idea.
Now that it is clear, MNC's are busy tearing down the FUTURE of potential companies that are on the verge of Bankruptcy,
we cannot expect them to revive a company like IDEA.
Revival depends on the people who are living around it and not by pumping more and more funds into..
At present, i don't feel that idea has the potential to break the purple line.
If my predication is as good as the market decision of the idea share to be at, we can expect the share trading at Rs.5
Too many indications which shows adds up to the fall:
1. Weak Fundamentals
2. Trading near the downward channel which started in 2015 and Idea is not strong enough for the breakout
3. It slipped down from the Orange Line(Trend line)
4. 200 days EMA is broken
5. Decreasing users
After considering the above,
We can see Idea at Rs.5 levels very soon.
Idea took the rally from Rs.5 level after the false news of Amazon planning to invest in Idea.
Now that it is clear, MNC's are busy tearing down the FUTURE of potential companies that are on the verge of Bankruptcy,
we cannot expect them to revive a company like IDEA.
Revival depends on the people who are living around it and not by pumping more and more funds into..
At present, i don't feel that idea has the potential to break the purple line.
If my predication is as good as the market decision of the idea share to be at, we can expect the share trading at Rs.5