TVC:USOIL
1) Possibility of short-term downtrend to continue.
2) Price closed below the bullish trend line on daily candle.
3) Possible breakdown of 57.42 level on fibonacci.
4) Stochastic cross over with bearish direction.
Setup:
Entry = 60.35
SL= 61.55
TP1= 58.90
TP2= 57.5
Mindtree already broke Momentum Support and Fell sharply, Recent Upside recovery is very Sloppy and in Narrow Range.
Already there are News going on this Stock in terms of Buy Back and Hostile take over by LT Infotech.
I expect Stock to continue its downside from here and keep falling. LTP 939 Expect Drop till 500 Level.
Would suggest to exit the current...
Maintaining lowest support line. In the next two to three weeks if it crosses 340 then fresh bullish move can be seen, possibly in the second half of January
Please watch out for closing above 1523 on 19.12.2019 for fresh bullishness. 1361 holds a strong support and is likely to hold in case of any bearish movement in short term
315 Degree angle on the Square of Nine favours pivot tops of JUBLFOOD market and similarly 45 Degree angle on the Square of Nine favours pivot bottoms of JUBLFOOD market.
And thus the forecast pivot bottom date is 26.12.2019 and the forecast pivot top date is 17.01.2020.
Further, it has been observed that JUBLFOOD favours increments and decrements of 270 Degree...
