It is been observed that the price action is resting at strong support zone where we could see a strong buying coming in coming trading sessions. At current price levels, we could see a good rally up . Technically, MACD indicator is also reaching to oversold area which is another sign of a pull back.
Target 1: 350
Stoploss: 330
Divergence, THREE BLACK CROWS & Wolfe Wave all are pointing a good short at this level for a target of 840 on or before 25.01.17. Good Risk reward ratio!
OI Analysis:
Price - UP
Volume - UP ( last 2 hrs )
OI - UP (+17%)
Market - (let see on 23/12/2016 - if nifty positive then will hit the targets)
Conclusion - Bullish
Strong Support - 1111 ( 3 rd times bounce from this support level )
MACD - Bullish crossover on bearish trend (below 0 level) but histogram likely to move above 0 level, its...
An inversely related stock price action to index has witnessed a strong rally of ~40% since March 2016. After a small pause (consolidation), the price are showing sign of breakout. Looking at the RSI (Relative Strength Index), the breakout from falling trendline and bullish crossover on MACD indicates price is ready for the rally towards 460-500.
Indicators are telling that price may try to reverse at this level, specially the RSI divergence when appears in oversold area. I will go long with small stop loss just some ticks below the low made today. IF it works it can give decent return so one can take chance by risking small amount. Good Luck
The stock is in downtrend making lower lows. IT has given first reversal signal forming double bottom and also divergence at this level in MACD/RSI. One can enter the long trade now as the risk is low. How far it would go only time would tell but 325 seems quite reasonable expectation.
The stock is at a good support area. MACD indicator is showing divergence. Although it is making lower high and seems to be in downtrend one can enter long here with small Stop loss and look for a target of 141. Very good risk to reward ratio.
