Nifty formed very classic pattern on monthly RSI charts. It has been beaten a lot to run but now it is very tired. It has not gone anywhere in last 15 months.
On MACD and RSI stock is showing extreme bullishness. Though stock moved from the initial buying point of 920 to 990 but volatility is very low indicating price action to happen. It is experiencing some supply at 1000 levels. Once it close above 1000 sellers will be taken out.
Jk tyres and Apollo tyres are also forming bullish patterns, chances are not only they...
Stock moved up yesterday on strong volumes. It is looking good by MACD, RSI and DMI on a monthly chart. Yesterday it made fresh 52 week high. After making 52 week high chances are that it will move towards 180 rs range.
It is firmly trading above 21 and 50 month average. It is also forming a nice cup and handle pattern.
Please note I am not a registered advisor so...
After crossing 21 day and 50 day moving averages it is nicely sitting on top of the lines. It gave a break out on strong volumes. And given the pull back too. First target 1300 then it should attempt 1400.
It is looking bullish on DMI, MACD and RSI as well.
In most part of the country rains has arrived early and rain has been good so far, this will benefit farming...
