TFC - Ascending channel
Updated
As per weekly charts, Scrip is gearing up in ascending channel with higher highs and higher lows, forming strength candles wherein,
BH>50% CH% Candle. Thanks to Deishma for providing theory insights
deishman.wordpress.com/2017/09/09/how-to-fix-targets-for-investment-stocks/
BH -% is Body Height of the Candle and is the Absolute Difference between Close and Open of the Candle.
CH -% is Candle Height of the Candle and is the Absolute Difference between High and Low of the Candle.
Bullish momentum sign
1) SMA - Ongoing momentum is seeing surge
2) CCI ( Commodity channel index ) - Above 100
_________________________________________________________________________________________
Aiming towards TP and beyond thereon after entry confirmation around 156
Call- 1- 1.5 months (As per previous momentum wherein scrip managed to rise by 72% in one month)
SL as per risk appetite
screener.in/company/TFCILTD/
business-standard.com/article/news-cm/tourism-finance-corporation-of-india-standalone-net-profit-rises-17-11-in-the-september-2017-quarter-117110100661_1.html
BH>50% CH% Candle. Thanks to Deishma for providing theory insights
deishman.wordpress.com/2017/09/09/how-to-fix-targets-for-investment-stocks/
BH -% is Body Height of the Candle and is the Absolute Difference between Close and Open of the Candle.
CH -% is Candle Height of the Candle and is the Absolute Difference between High and Low of the Candle.
Bullish momentum sign
1) SMA - Ongoing momentum is seeing surge
2) CCI ( Commodity channel index ) - Above 100
_________________________________________________________________________________________
Aiming towards TP and beyond thereon after entry confirmation around 156
Call- 1- 1.5 months (As per previous momentum wherein scrip managed to rise by 72% in one month)
SL as per risk appetite
screener.in/company/TFCILTD/
business-standard.com/article/news-cm/tourism-finance-corporation-of-india-standalone-net-profit-rises-17-11-in-the-september-2017-quarter-117110100661_1.html
Note
Scrip has managed to reach the core resistance zone..Monthly charts have also shown the bullish surge
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.