Mirza - Bullish ascending channel
Updated
Scrip can show uptrend trend towards resistance from lower ascending trendline (support)
Trade can be started post confirmation (entry range) as mentioned in chart aiming towards resistances and breakout from ascending channel
Other factor supporting the reversal :
1) %william showing uptrend from oversold situation
2) Bullish (green) harami formation can be seen which signifies Open (O) higher than previous close (C) and body entirely within previous body
As per previous observations, The scrip has shown quick bullish surge so if similar trend follows, Call would be 6-10 days however, be careful to book profit on timely basis before reversal could be seen after quick surge if bearish engulf starts to take place
Support = As shown in chart
(Note- Q1FY18 YoY result coming on Aug 5, 2017 which would confirm the further trend - equitybulls.com/admin/news2006/news_det.asp?id=211257)
Trade can be started post confirmation (entry range) as mentioned in chart aiming towards resistances and breakout from ascending channel
Other factor supporting the reversal :
1) %william showing uptrend from oversold situation
2) Bullish (green) harami formation can be seen which signifies Open (O) higher than previous close (C) and body entirely within previous body
As per previous observations, The scrip has shown quick bullish surge so if similar trend follows, Call would be 6-10 days however, be careful to book profit on timely basis before reversal could be seen after quick surge if bearish engulf starts to take place
Support = As shown in chart
(Note- Q1FY18 YoY result coming on Aug 5, 2017 which would confirm the further trend - equitybulls.com/admin/news2006/news_det.asp?id=211257)
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