Parag Milk is into dairy products and have released their Quaterly financial Statement with a drop of 90% PAT, This could be the reason for the recent sell off. The CMP 97.5 is really close to a crucial support level along with the RSI indicating it to be in the oversold region for Parag Milk Foods on the 30m Chart as well as the 5m, 45 and Daily chart. This could turn out to be a point of Trend Reversal. The price movement in the remaining days could really point out the subsequent trend direction. Strong resistance at 109.85.
Disclaimer: The views expressed are completely based on author's analysis of the chart pattern and information available on the internet. Due diligence is requested. Please consult your financial adviser for clear understanding.
Disclaimer: The views expressed are completely based on author's analysis of the chart pattern and information available on the internet. Due diligence is requested. Please consult your financial adviser for clear understanding.
Trade active:
immediate target at 112 with test level 109