Briefing about my multi-confirmation setup on VAKRANGEE :
1.Wedge pattern breakout : It has broken out of downward pointing wedge pattern and did a last kiss on the upper trend line.
2.Volume spurt : breakout is supported by good volume ,again a sign of building interest in stock.
3.Golden Crossover : 50 DMA crossing over 200 DMA from below , a good bullish...
Gold took support from Daily 200 Day Moving Average
BUY GOLD ABOVE 48700, Day Closing Above This Level Will Make View Solid, Strict SL - 47500 (DCB), Target - 50300/51000
looking good for short term as well long term
Currently in Monthly and daily demand zone
Golden cross over formed
Highest market cap in education sector
PE ration 7 Vs industry PE 13 Undervalued
Share book value 15 undervalued
Invest only that much which you can afford to loose
The Golden Cross - when the 50DMA crosses above 200DMA
This is a bullish signal and a lot of people swear by this cross- for long term wealth generation. This is the perfect time to add RELIANCE to your portfolio
The last Golden Cross on daily charts happened in NOV'15 and has returned 256% in the last 5 years!
