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ParamjitMahapatro
Oct 29, 2017 3:15 AM

jamna auto looks bullish in medium term Long

JAMNA AUTO INDNSE

Description

In weekly, it is in strong uptrend. also it closed above upper BB with high volume and BB is expanding.


In daily, price broke out of previous peak with high volume,

fundamental wise - it is making consistent profit, positive cash flow, valuation moderate, good ROE.

with an initial sl - 54, one can ride the uptrend here.

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hidden bullish divergence seen here

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ascending triangle forming here,


look for breakout

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breakout with good volume, from ascending triangle pattern, pattern tgt - 77

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cmp - 77.15, ascending triangle pattern tgt achieved here

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moving up as expected, cmp - 81.4

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till now 83.15

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till now 89.15, in weekly price at horizontal support and uptrend is still intact.
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