$ALLO
Current:Rs12.27 | Daily: -4.37% | Weight: 0.0438
Trading under pressure,showing relative weakness compared to the board. The low weight indicates it's a smaller component.
Trade Idea: Bearish bias in the short term. Consider shorts or wait for a deeper pullback for a potential long entry.
TG1 (Short): Rs 11.80
TG2 (Short): Rs 11.20
TG3 (Short): Rs 10.75
Short-Term Insight: Needs to reclaim Rs12.80 to negate immediate downside momentum. Watch for a stabilization pattern.
Long-Term Insight:As a low-weight asset, it requires a broader sector tailwind or unique development to see significant independent gains.
Market Overview: Underperformers in a mixed market can often see continued selling as capital rotates to stronger trends.
Pro Tip:In weak assets, rallies are often sold. Use any bounce toward Rs12.80-13.00 as a potential opportunity to enter a short position with defined risk.
