BASED ON PULLBACK THEORY
STAY LONG WITH STOP 1380 ON CLOSING BASIS
WHAT IS PULLBACK ???
A pullback is a temporary reversal of the current trend, either up or down. The price action in the market moves like a wave:
- in an uptrend market, you will see price continue to increase but even whilst it is increasing, there will be times when price will drop. Then...
Whenever before the script got hit from Top Level -
ADX was in cluster, though rsi was above 65 level showing strong bullish trend
This time script is again near the same level
will it cross this time or again will get a HIT ???
RSI near 70 ( strong bullish trend )
ADX slowly crossng -DI, +DI above adx & - DI
NOTE = IF THE SCRIPT CROSSES HIGH...
Buy only upon bullish breakout of the triangle. The trade is strictly positional. The markets could gap up and leave intraday traders without a good entry point.
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The trend line looks to be set and Galaxy Surfactants looks ready to make an upmove. It may even converge to a smaller triangle but the next 2-3 weeks it should give an upmove of 10-15% in the range of 1800 to 1875.
The trend is an uptrend so we are also going in line with the trend. Trend is My Friend :)
Please note that this is my analysis and not a...
HindPetro has given a perfect bounce from its support and is now poised to cover higher grounds.
On Balance Volume is steadily rising indicating investors increasing confidence
Can go Positionally Long with the first target of 208
The stock has not been performing very well for about last 80-85 trading sessions. After a very long time, the stock has given a clear breakout from its trendline with relatively higher volumes and is not expected to show uprise.
The macd is also indicating a reversal.
Levels mentioned in the chart.
This analysis is done by me and could go wrong due to...
BUY IN DIPS NOW 1556.35 SL 1410 TARGET 1750 1800
Over the last 5 years, net income has grown at a yearly rate of 28.15%, vs industry avg of 21.24%
Stock has been generating better return on equity than bank FD
Good time to consider, as stock is not in overbought zone
In last 3 months, foreign institutional holding of the company has increased by 1.03%