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Granules India is making HH - HL pattern. Elliot wave theory implications can clearly understood. But most important is MACD crossover. This one is classic example of MACD crossover.
The stock is approaching the important support of 20-day simple moving average where the rising trend line meets. Since the trend is bullish, the stock is expected to bounce off near 300.
GRANULES INDIA making day by day high with huge volumes, today it has given break out zone 220 above and sustained above closing successfully. one can accumulate
at the CMP for another 25 points up move which tends for a target of 240 &250 zone.
Note: This is for educational purpose only.
There seems to be a bullish breakout post accumulation with high volume. Moreover, RSI above 65 which too indicates bullish momentum.
granules india is forming higher highs and higher lows on higher timeframes and it has recently broke long term resistance;
As per fibonacci trend analysis at can touch target of 256.
cmp 214
stoploss 181
target 256.
