As this is a weekly chart, trade may take some time. Consider it a swing trade.
Imp: Look for a bullish candle near 303 on daily chart and go long just above the high of that candle. Wait until bullish signal.
Regards.
Although I presented the trade on weekly chart yet it would be small swing trade which may take just few days to either hit the targets or stop loss. Partial or full profit booking at first target could be done as overhead supply may hurt the upmove. Some might disagree with my Cypher pattern so I urge them in advance to take it easy :)
All nitty gritty details ...
This is strictly short term.
The price action is oversold as seen in hourly RSI and the price is touching 200 MA at the moment.
It's reasonable to expect a bounce back to 24500 levels in next session or two. But once again, this is very short term.
Hello friends,
The stock of Just Dial appears interesting and is at support levels we may see a recovery soon. The app has gone recent transformation and introduced pay feature which will be beneficial for the company in long run. Available at decent valuations. No strong technical indicators though RSI indicates highly oversold
Current price level is clearly a good demand zone where buyers emerge. We can go long here with small Stop Loss just below the low made recently on closing basis and expect a good profit in short term. RSI 40 for this stock worked as extreme oversold zone and again bouncing from this level thus confirming the idea of going long.
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
The stock is getting support at up sloping trend line. Probably we can use this pull back for entering a long at this level. My idea has following justification
1. closed out of downtrend regression channel
2.Made an engulfing covering the previous candle completely.
3. Trend line support.
4. Mostly at this level of RSI it changes the trend.
5. Trend reversal ...
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
Silver is possibly undergoing a fast three-wave correction that has retraced 50% of the previous cycle advance
$17.40-17.50 is potentially a strong support cluster and warrants a look for Long trades
