Ankit_Oberoi

CHOLA FINANCIAL - FAVOURABLE RR

Long
NSE:CHOLAFIN   CHOLAMANDALAM INV
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

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