NLC India Ltd
15.5.2017
Trade
Company Profile:
NLC India Ltd. is engaged in the mining and exploration of lignite and generation of thermal power in India. The company owns opencast mines and thermal power stations. It supplies power to diverse industries such as electricity boards, cement companies and paint companies, in addition to other...
Wipro daily chart is showing negative divergences with MACD and Stoch RSI. Today's Close is at 490 which is very near to resistance of 500. Also, possible pullback can be expected considering the today's close just above the boundary of upper Bollinger band.
These 4 reasons indicate the price pullback in next 2 trading days. Prices may test the resistance of 500...
Double Bottom has been formed on daily charts of Infosys hinting a bullish trend in coming days. Weekly trend is also UP.
But in short term, a bearish divergence is formed which can lead to a small correction/sideways movement in coming days and then it may continue it's long term bullish trend.
Buy is suggested post correction.
