Stock has been trading in a downtrend channel since July. Yesterday the upmove broke the channel along with volumes greater than 50 day's average. RSI is recovering from the oversold region. Adding to the steam is announcement of better than expected growth results. Go long if sustains near Rs.125 Intraday Target- 127-130 Positional Target- 134
Comment
⋅
Reached 129.20 just a little shy of 130
Trade closed: target reached
⋅
Trade active
⋅
Stock broke the trendline but met the resistance at Rs.129.2 and formed a doji on daily chart. However the volumes were greater than 25 days average. Next target- 130 if uptrend continues.
Trade closed: target reached
⋅
Comment
⋅
Bulls strength seems to be fading away. It has twice tested the 129-130 zones and then retraced back. Target for tomorrow- Rs 123
Comment
⋅
Made a low of 124.5 However the candle closed at 129.65 and also made a higher high. Next level to watch- Rs.133- Rs.135