DOLLAR is near a large weekly base BO, almost ~6% away from it. A couple of weeks back good volumes did try and touch that level.
As a fan of trying to catch stocks before BO as post BO they generally get extended, this might be that one scrip i am able to screen and check right now. RS scores considering 750 stocks in NSE are as follows :
RS score hasn't really improved tbh but the chart looks solid and considering the market we saw the last couple of weeks, it held its 50 DMA when breached although with lower than average volumes.
If market conditions improve, will be tempted to take a position here with SL of 476 small weekly base pivot point.
As a fan of trying to catch stocks before BO as post BO they generally get extended, this might be that one scrip i am able to screen and check right now. RS scores considering 750 stocks in NSE are as follows :
- 1st Mar - 53
- 7th Mar - 60
- 15th Mar - 58
- 22nd Mar - 60
RS score hasn't really improved tbh but the chart looks solid and considering the market we saw the last couple of weeks, it held its 50 DMA when breached although with lower than average volumes.
If market conditions improve, will be tempted to take a position here with SL of 476 small weekly base pivot point.
Comment:
Attempted BO today. RS score today is 62, so above where we were when I posted. Considering Market is okay now with index around ATH, this can turn out to be a good bet. Keep SL as per your comfortability if you are getting into this.