CHOLA FINANCIAL - FAVOURABLE RR
The stock has been moving in a range and recently tested the support line.
However has closed above the resistance with good volumes (the long green candle which was formed on 2nd Aug and the candle on 5th Aug gave double confirmation). Seems ready to take on the second resistance line. Converging moving averages are also a positive sign with shorter moving average crossing the longer ones from below.
Ripe for a swing trade.
S.L: 510-520
Target: 580 -585
However has closed above the resistance with good volumes (the long green candle which was formed on 2nd Aug and the candle on 5th Aug gave double confirmation). Seems ready to take on the second resistance line. Converging moving averages are also a positive sign with shorter moving average crossing the longer ones from below.
Ripe for a swing trade.
S.L: 510-520
Target: 580 -585
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.