MPHASIS (NSE) has broken out of its range with heavy volume. This breakout has also happened at the 200 day moving average.
Keeping the range consolidation zone as the probable area of up trend, we can keep the target as previous resistance zone of 2450. Conservative investors can wait for a reversal and confirmation before placing a trade.
change of trend after long consolidation, we can see price also reclaimed 200 dma from now on following the trend may give good risk reward ,and we can see formation of flag pole so usually rally would be lenght of pole
NSE:MINDTREE
200D EMA on weekly time frame support with fib. 0.618 great time to buy at the support level, keep on track.
MINDTREE Buy on dips.
Thanks...
HINDZINC seems to be reversing from long term trendline from Mar'2020. The price is also at 200DMA and is exhibiting bullish RSI divergence. Seems a good long candidate, heading towards 350.
ASHOKLEY is bouncing off from its trendline support which and also at 200 day moving average. 121 is a resistance which if crossed would be bullish on the stock. It would make sense to start building long position with full position on daily closing above 121. We can expect a target of 135 which is the previous strong resistance on the stock with 112 as the stop.
Beautiful MACD Histogram divergence taken place...beautifully taken support @ 200DMA.. Risk is 4 points if bought @ 226 and targets are 230-235-240..ENjoy
