Divergent_trader

HCG | BOUNCE OFF DYNAMIC SUPPORT

Long
NSE:HCG   HEALTHCARE GLOBAL
Prices above 200ma have historically taken support on 50ma. Today, once again it bounced off from 50ma by printing an Engulfing candle coupled with a Stochastic RSI Crossover. Note the Engulfing candles cover the whole body of the previous candle, ignoring the wicks.

With these reasons, a buy can be initiated above the close of today's candle ie ., 249.85, with SL of 237. first target of 263 at final target of 275 can be aimed for.
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