Closing Price 404.45
The stock has reversed from 200 day EMA
The stock may fall up to 394 / 380 / 377 in short term
Pattern gets invalidated if closing above 412
Take care & safe trading...!!!
It has been observed that the price action firstly formed a bullish inverted head and shoulder chart pattern and now it breaks above the consolidated symmetrical triangle indicating a new rally to upside.
All indicators are positive in daily chart. MACD,ADX and RSI are positive ,Stochastic also in uptrend in weekly chart. Price also came out from the range of 410.
Next target range is 437-441.
Just dial is a classic case of a developing major trend reversal. There is no clear traditional evidence of reversal on longer frame charts but on the weekly basis, it's showing clear signs of reversal. Since all this is happening near to the previous bottom, this weekly reversal becomes more significant. This is a medium term aggressive trade but with the...
The stock continues to be under pressure and the rally shows that it has reached a Fibonacci cluster confluence of resistances as can be seen on the charts. So one should look at some intraday shorts as dips towards 355 is very much on the cards. The rally towards 371-374 can also be used for shorting as markets are showing some pressure today and this stock could...
Strong support at current levels may bring back JUSTDIAL into action on the upside
Trade duration of call: 6 months
The trades are broken down into 4 targets or checkpoints where we take a pit stop to analyse further course of action.
It is been observed that the price action taken a strong support at 400-410 levels and it shall further take it up from current levels. A low risk, high gain setup.
Target1 - 420
Target 2: 440
Actually I tried drawing ABCD over there but it looked to weird & on smaller timeframe I guess there is an ABCD pattern which justifies this up move in Justdial. I don't know why I see ABCD's only Lol !
I will search for other patterns or methods.... Either you can wait for Fib touch if you are fib user or bsaed on resistance n bearish confirmation you can take...