Kalyan Jewellers _ Deja Vu (Similar Opportunity!)

After long bullish rally price corrects around 15% , correction is in form of downward channel, just like it did previously.

As we discussed earlier in spetember the possible two scenarios the price could do, while anticipating possible new highs. Again stock provides the similar situation.
Possible Scenarios:
* Buying Opportunity on break and retest of minor resistance @ 335 (Previously Support).
*If price fails to break above 335 it can further slips till its demand area which is between 300-290.Between that zone we can see good accumulation of orders which could possibly push the price up
Upward targets are 375 and 390 .
Although Higher time frame seems pretty bullish ,but structural shift in lower time frame, from bearish to bullish must keep in mind. Always Trade with more confirmations.