Recently breaks all its near time resistance make or break will be decided by 10th June
indicator and rating
RSI (86) Buy rating- 1
Neutral Rating- 2.5
sell rating -4
MA/EMA cross over (still bullish )
MACD (5.20) Buy rating 3
Neutral Rating 1
sell rating 3
Stock has given a Good Breakout above 30.75 with spike in Volume which indicates that in days to come we might see the resistance of previous swing high i.e. of Rs 35-37
with support of 30. Along with Price and Trend Analysis Breakout Momentum indicator is also turn into positive territory.
Moving up in Parallel Channel.
Testing Support, making higher highs and higher bottoms.
International Paper prices rising & a good Q4 result can support the up-move.
Target : 75-81-94
Support : 63
SL : 59
Risk:Reward - 1:4
RSI : Monthly & Weekly above 55
Trading above 50 SMA
Paper sector is booming due to adversarial move in crude price and long term negative impact of plastic on environment. this was the economical and sentimental change in though of investors, which has caused the price to move in tandem and stronger than nifty. However tenkan kijun and cloud B have become flat and price could be attracted towards it.