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...
for educational purpose justdial just touched the fib .382 level of downtrend with doji at top means bulls are handing over the control to bears. sell below 533 with sl of 543.5 for target 520, 516, 495. rsi is in highly overbought needs some consolidation or some correction.
It is been observed on the Weekly and Monthly chart that the price action was trading below the downward trend line, indicated a downward rally. Now, after 2 years, it has finally broken and closed above the trend line, indicating a strong bullish move ahead.