ParamjitMahapatro

federal mogul looks bullish in short to medium term

Long
BSE:FMGOETZE   FEDERAL-MOGUL GOETZE (INDIA) L
It is in long term uptrend.

In daily, it broke out of descending channel with good volume , also price closed above upper bb and bb is expanding and reversing .

In weekly, hidden bullish divergence is seen.
also price has reversed from horizontal support zone .
with sl - 512, tgt - 640.
Trade active: it is trying to retest the breakout level,
Comment: Price is approaching the support zone again,
Comment: price is consolidating at the support zone, it can consolidate till indefinite period of time, so a lot of patience is required here.

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