Automotive Axles: Potential Reversal in Prices and Breakout Oppo

The price action in Automotive Axles suggests a potential reversal from the current levels. The prices have already traced back to the 113%-127% Fibonacci zone and demonstrated a bounce back from the 113% retracement zone of the last upward swing. Additionally, the stock is on the verge of breaking out of the consolidation zone, which ranges from 2180 to 2277. The MACD crossover is also indicating a positive move for this counter. As a result, this stock is considered a potential buy at the current market price (CMP) of 2248, with a stop-loss (SL) set at 2097 (SL condition: candle on the daily chart must be closed below 2097). The target for this trade is set at the range of 2766 to 2840.