Metals look very strong
Fib Analysis- The stock has given a breakout on the monthly charts. This is again after a decade of consolidation. Hence I will term this as significant. On the daily charts the recent dip to 136 was 38.2% and was an early sign to enter. Since it has a long way to go I reckon it still is a good buy.
RSI- the oscillation of the RSI has now changed from bear to bull. It is topping above 70-75 and taking support above 40-45 . RSI above the MA crossover is very very positive.
Volume- The rise is supported with volume again positive.
MA- any dip to the two shorter MA's will be an opportunity to buy.
Conclusion- Buy at CMP187, its first good resistance is at 260 , my first target is 400.
RSI- the oscillation of the RSI has now changed from bear to bull. It is topping above 70-75 and taking support above 40-45 . RSI above the MA crossover is very very positive.
Volume- The rise is supported with volume again positive.
MA- any dip to the two shorter MA's will be an opportunity to buy.
Conclusion- Buy at CMP187, its first good resistance is at 260 , my first target is 400.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.