Opto Circuits Weekly: 1-5 Nov 10: London Bridge is falling down, falling down

OPTO CIRCUITS Weekly NSE Stock Chart Technical Analysis:

Opto Circuits closed this week positively.  It opened at Rs 290 and closed at Rs. 302.75.

Market Outlook:  

• The price will fall back next week.
• Hopefully, it will stop at or above Rs. 284.
• Don't buy this stock right now, the price is going to fall further.  

Technical Indicators:

• Price is getting Fibonacci Fan 23.6% support, which will be around Rs. 284 for the month of November.
• Downside Gap Three Candlestick pattern has formed, confirming continued bearish trend next week.
• If price falls below Rs. 284, the next point of support will be at Rs. 265 which is the Fibonacci retracements support point.

OPTO CIRCUITS Weekly NSE Stock Chart Technical Analysis: