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EXIDEIND Support & Resistance #EXIDEIND Trend: Strong uptrend from January to June 2024, followed by a corrective phase. Currently consolidating with signs of a potential reversal. Chart Pattern: Double Bottom pattern with a breakout above ₹490, signaling a possible trend reversal. Candlestick: Strong bullish candle today (+5.42%) with no upper wick, indicating strong buying pressure. Price Action: Support found at 460. Breakout above ₹490 shows buyer strength and momentum. Volume: Significant volume spike (13.69M), confirming the breakout strength. Buy Entry: Consider buying around ₹490-500 for potential upside. Stop Loss: Set a stop loss below 460 (key support level). Target: Initial target around 540, with potential to reach *580-1600 if momentum continues.
NSE:EXIDEINDLong
by SkyTradingZone
Gold Analysis September 5Fundamental Analysis Gold prices edged up in Asian trade on Thursday. A US jobs report showed on Wednesday that employment fell to a three-and-a-half-year low in July, raising expectations that the Federal Reserve will cut interest rates further in September, which in turn acted as a boost for the non-yielding yellow metal. Moreover, concerns about the health of the US economy dampened investor appetite for riskier assets, further supporting the safe-haven precious metal. However, gold prices lacked strong buying interest as traders appeared reluctant to place strong bullish bets, preferring to wait for key details on the US monthly employment report - commonly known as the Non-Farm Payrolls (NFP) report - due on Friday. Meanwhile, the US economic agenda on Thursday - including the ADP report on private sector employment, the weekly jobless claims and the ISM services PMI - will be looked at for short-term opportunities. However, expectations of the imminent start of the Fed's policy easing cycle could continue to support Gold. Technical Analysis Gold is moving back in the sideways range of 2490-2505. After an old liquidity sweep to 2472. The Asian session's upside momentum is not strong enough to break the technical level of 2508. When the European session pushes up to 2508 without breaking through, we can set up a SELL signal at this area. The sell trend may extend further than there is still a way to move up to ATH. Today, when the US session enters, pay attention to the resistance zone of 2512-2514 for a SELL strategy. And the push to the low zone this week and next week could create momentum for the FOMC to push gold to a new ATH. Resistance: 2505 - 2509 - 2515 - 2524 - 2535 Support: 2491 - 2485 - 2472 - 2461 - 2454 - 2440 SELL price zone 2513 - 2515 stoploss 2518 BUY price zone 2460 - 2462 stoploss 2456 BUY price zone 2480 - 2478 stoploss 2475
OANDA:XAUUSD
by TVS-Trader
Reliance Industries Ltd.- Monthly Chart Analysis ### Analysis of Reliance Industries Ltd. Monthly Chart - **Price Movement**: The chart highlights a long-term uptrend for Reliance Industries, with the current price at ₹3,019.25. Over time, the stock has shown strong bullish momentum, as evidenced by the large upward moves. - **Recent Uptrend**: The stock recently rallied by **₹629.40**, which is a **24.41%** increase, indicating strong buying interest. This upward breakout could potentially signal continued bullish momentum. - **Previous Corrections**: - There was a correction of **₹609.50** (approximately **23.74%**) in the past, but the stock recovered from it. - Earlier, another significant drop of **₹633.90** (**23.81%**) occurred, followed by a strong recovery, indicating that the stock tends to rebound after corrections. - **Volume Indicator**: The **Cumulative Volume Delta (CVD)** shows negative values (around **-12.28M**), suggesting that despite the price rise, there may be some selling pressure or reduced buying volume at this level. - **Resistance and Support**: The previous corrections show the stock facing resistance at certain levels before breaking out higher. Current levels may face resistance as the stock is near recent highs, but given the upward trend, breaking through could lead to new highs. ### Key Takeaways: - Reliance Industries Ltd. is in a strong uptrend with consistent price increases. - The stock has seen periodic corrections but recovers quickly, showing resilience. - The CVD suggests some caution, as volume data indicates potential resistance, though the price remains bullish overall.
NSE:RELIANCE
by shivtoshiva2022
TEMBO GLOBAL INDUSTRIES LTD 1. **Fundamental Data:** - **EPS (Earnings Per Share):** - Jun-24: ₹4 (+136% YoY) - Mar-24: ₹1.9 (+59% YoY) - Dec-23: ₹3.3 (+84% YoY) - Sep-23: ₹3.9 (+150% YoY) - Jun-23: ₹1.7 (+121% YoY) - **Sales (in Crores):** - Jun-24: ₹128.4 (+58% YoY) - Mar-24: ₹121.7 (+39% YoY) - Dec-23: ₹115.4 (+104% YoY) - Sep-23: ₹114 (+116% YoY) - Jun-23: ₹81.1 (+52% YoY) - **PAT (Profit After Tax in Crores):** - Jun-24: ₹5.4 (+187% YoY) - Mar-24: ₹2.6 (+102% YoY) - Dec-23: ₹4.4 (+123% YoY) - Sep-23: ₹5.2 (+204% YoY) - Jun-23: ₹1.9 (+144% YoY) ### 2. **Technical Indicators:** - **Current Price:** ₹283.75 - **Support Levels:** Identified at ₹248, ₹219, and ₹200. - **Resistance Levels:** Around ₹283.75, which is being tested. - **Volume:** There has been a significant increase in volume, suggesting higher investor interest. - **Moving Averages:** - The stock is trading above both the short-term and long-term moving averages, indicating an uptrend. ### 3. **Volatility and Risk:** - **RVol (Relative Volume):** 112% - indicates higher than usual trading activity. - **U/D Vol (Up/Down Volume Ratio):** 5.6 - a high ratio indicates strong buying pressure. ### **Analysis:** - **Fundamental Strength:** Tembo Global Industries has shown strong growth across EPS, Sales, and PAT over the last few quarters, indicating solid fundamental performance. - **Technical Position:** The stock is near a resistance level around ₹283.75. If it breaks through this resistance with sustained volume, it could signal a further upward move. - **Volume Trends:** The rising volume and high up/down volume ratio indicate strong buying interest, which is positive for the stock's price action. ### **Risk-Reward Consideration:** - **Risk:** The stock is currently at a resistance level, and there may be a pullback if it fails to break through. The previous support levels around ₹248 and ₹219 could act as potential entry points in case of a correction. - **Reward:** If the stock breaks above the ₹283.75 resistance with volume, it could offer a good upside potential, especially given the strong fundamentals.
NSE:TEMBOLong
by REKHA_CHOUDHARY
4
PNB Housing Finance Ltd. – Breakout from ConsolidationPNB Housing Finance Ltd . has shown a strong breakout from a consolidation phase, currently trading at ₹914.60, up by 3.84% for the day. The stock is poised for further bullish momentum, having broken through key resistance levels. Technical Indicators: Break of Structure (BOS) : The stock recently broke a significant structural resistance level, indicating a potential shift in market sentiment. The BOS suggests that the previous downtrend is reversing into an uptrend, which could lead to further price increases. Cup and Handle Formation: A classic Cup and Handle pattern is also visible on the chart, typically signaling a bullish continuation. The handle appears to be forming above the trendline, further reinforcing the bullish bias. Weak High & Breakout Potentia : The price has broken above a weak high, which acted as a previous resistance point. This breakout could trigger additional buying interest as traders anticipate higher price targets. Change of Character (CHoCH) : The presence of CHoCH indicates that the market structure has changed, confirming the bullish reversal. This is a key sign that the stock could be entering a new phase of upward momentum. Volume Analysis : The breakout is supported by an increase in volume, suggesting strong buying interest. Higher volume during a breakout often confirms the strength of the move. Key Levels: Support: The breakout level around ₹850 will likely act as a strong support in the near term. As long as the price remains above this level, the bullish momentum could continue. Resistance: The stock faces potential resistance near the psychological ₹1,000 mark. This round number could act as a barrier, and traders should watch for any signs of hesitation as the price approaches this level. Conclusion NSE:PNBHOUSING : PNB Housing Finance Ltd. has displayed strong bullish signals, breaking out of a consolidation phase and forming a classic cup and handle pattern. The recent BOS and CHoCH confirm the reversal, and increasing volume adds confidence to the move. Traders should keep an eye on the resistance level near ₹1,000 and monitor for any potential pullbacks. Disclaimer: This is for analysis for educational purposes only, not financial advice. Always do your own research before making any investment decisions.
NSE:PNBHOUSINGLong
by rajsharmatt
NYSE:DOCS - Breakout Opportunity with Strong FinancialsSummary: NYSE:DOCS Doximity NYSE:DOCS has experienced a big breakout with a higher volume spike, indicating strong buying interest. The company's impressive gross profit margin, aggressive share buybacks, and solid balance sheet with more cash than debt make it an attractive investment opportunity. Additionally, Doximity has a very high Piotroski score, further solidifying its strong fundamentals. Fundamentals: Impressive gross profit margin Management aggressively buying back shares Holds more cash than debt on the balance sheet Very high Piotroski score Technical: High RSI, indicating strong momentum Relative strength is positive compared to the index Breakout after a period of consolidation
NYSE:DOCSLong
by hrishikeshrahalkar
Trading Signal Analysis for TITAGARH RAIL SYSTEMS LTD (NSE)Signal: BUY 📈 Confidence: 90% Take Profit Target: 1,600 INR 🟢 Stop Loss Target: 1,300 INR 🔴 Analysis: Strong Uptrend 📈 The stock is in a clear and strong uptrend, making higher highs and higher lows consistently. Volume Increase 📊 There is a significant increase in volume accompanying the recent price rise, indicating strong buying interest. Support from Moving Averages 📉📈 The price is well above the key moving averages (both short-term and long-term), providing strong support. Bullish Candlestick Pattern 🕯️ The recent candlesticks show a bullish pattern, confirming the upward momentum. Breakout Above Resistance 🚀 The stock has broken above a key resistance level at around 1,316 INR, indicating potential for further gains. Price targets based on Fibonacci extension levels suggest the next target around 1,600 INR. Market Sentiment 🟢 Overall positive sentiment in the market for this sector, supporting the bullish outlook. Disclaimer: This is not trading advice. Always perform your own research before making any trading decisions.
NSE:TITAGARHLong
by TRADING-NASA
buyers may aim for a new all-time highThe Bitcoin price has experienced a strong buying pressure, that has been evident on the chart, since the beginning of 2023, which resulted in a 270% surge. Furthermore, on March 14th, 2024, the asset reached an all-time high of $73,810, but later it underwent a correction phase on the daily chart. Mainly, from the start of March, the BTC price has been trying to defend an key major support level of $61,010. Yet, in the first week of May, the BTC asset price slipped below this key level for instance, but the buyers were strongly able to regain the price back above the $61,010. As of press time, the assets’ price has traded at $60,957.01 on the daily chart, which has reflected an intraday gain of 0.12%. Likewise, its market capitalization is $1.19 Trillion, with a fully diluted market cap of $1.27 Trillion, and its 24-hour trading volume stands at $26.12 Billion. With reference to the daily chart, Bitcoin's recent price is defending the major vital support level, and it has been trading at this level since the time of writing. However, the buying trend has appeared to have been slowed from the $70,000 hurdle, forming lower lows and lower highs. At the falling trendline, BTC price has formed a bearish candlestick pattern. If sellers become interested, and the price falls below the major support level of $61,000, selling pressure could cause it to drop to the 200-day EMA. If the asset price fails to defend the 200-day EMA, most investors may decide to book profits, leading to strong selling pressure. Conversely, if the Bitcoin crypto price triggers a breakout from the trendline and sustains it, buyers may become interested, leading to bullish momentum. Assuming this buying momentum is supported by trading volume, buyers may aim for a new all-time high, and a long-term bullish trend may be expected. Based on the chart structure, the major support level is $61,000, with another support level at $52,000. If the price gains bullish momentum, it could be interrupted near the $71,000 hurdle, with another resistance level at $80,000.
OANDA:BTCUSDLong
by Sam_TCR
long-term bullish trend can be expected.Since the beginning of 2023, the Bitcoin price has witnessed strong buying pressure and the price has surged by 270%. It recorded an all-time high of $73,808 on March 14, 2024, and underwent a correction phase. The price has been defending the major support level of $61,000 from the beginning of March. In the first week of May, the asset price slipped below the major support level but buyers were strong enough and lifted the price over the $61,000 hurdle. At press time, the Bitcoin price traded at $60,957.00 with an intraday gain of 0.13%. The market capitalization is $1.19 Trillion and the fully diluted market cap is $1.27 Trillion. The 24-hour trading volume is $26.12 Billion and according to the volume, it ranks 2nd in the cryptocurrency market. Bitcoin price has been defending the major support level of $61,0000 and trading at the same level at the time of writing. The buying trend has halted near the $70,000 hurdle and declined by forming lower lows and lower highs. BTC price has formed a bearish candlestick pattern at the falling trendline. Suppose the sellers show interest and the price starts trading below the major support level of $61,000, selling pressure can be seen and melt to the 200-day EMA. If the asset price fails to defend the 200-day EAM, most of the investors may prefer to book profit which may lead to a strong selling pressure. On the other hand, if the Bitcoin crypto price triggers a breakout from the trendline and sustains then the buyers may show interest and may gain bullish momentum. Assuming this buying momentum is supported by the trading volume, buyers may eye for a new all-time high, and a long-term bullish trend can be expected. Based on the chart structure, the major support level is $61,000 and another support level would be $52,000. If the price gains bullish momentum then it could be interrupted near the $71,000 hurdle and another resistance level would be $80,000.
Long
by Sam_TCR
DATAPATTNS - 5 months consolidation / Downtrend Breakout Data Patterns (India) Ltd 1) Time Frame - Daily. 2) The Stock has been in a downtrend / consolidation since (September, 2023). Now It has given a breakout & Closed at it's 5 months High with good bullish momentum in Daily Time Frame. 3) Option 1 - With the strong 5 months consolidation breakout in Daily, Buy at this current level. Option 2 - Wait for the strong weekly candle's close above the price 2175.40. 4) Next target will be it's All Time High (2485). 5) Recommendation - Strong Buy
NSE:DATAPATTNSLong
by SHRIHARII
ALLSEC / Allsec Technologies - PREVIOUS ALL TIME HIGH BREAKOUTALLSEC 1) Time Frame - Weekly and Monthly. 2) Stock hit the previous Life time high 747.90 on 2022, January and Now the stock has broken It's Life time high 747.90 with huge volume & strong bullish candle in weekly and closed at It's All TIme High. 3) Option 1 - With the strong weekly close in All Time High, Buy at this current level. Option 2 - Wait for the strong bullish Monthly candle's close with huge volume above the price 747.90. 4) Recommendation - Strong Buy
ALong
by SHRIHARII
PostMortem on BankNifty Today & Analysis of 24 NOV 2022 - ExpiryBank nifty broke out and made an all time high of 43163 today. The opening was at 42838 negating yesterday's fake price move from 15.00 to close. Notice how yesterday's rally continued with the yellow encircled region. Today's open and forenoon trade was in perfect alignment with the rally that started yesterday.  Since its a breakout rally - the momentum was gaining strength and the final 45mts of today's trade is proof of that. Before that BN was in a range a narrow one and the monthly expiry was nothing unusual. But the last 45mts gave some wings to the premium eventhough it was the closing minutes. 43000 CE went from 9.35 to 89.75 between 14.47 and close today, closed in the money with a final value of 76. The reverse is also true, 43000 PE went from 111.9 to 0.05 between 14.47 to close. When the VIX is near the lows ~ 13.47, implied volatility is low - the best option is to go with option buying (obviously we need a trend to make a killing). Personally i wish to stay away from directional trades right now, prefer to execute arbitrage trades. The Euphoria in the market is now at all time highs - just as the markets are. So there could be fake moves or wild swings with no accompanying fundamental reasons. All time highs are not good levels to enter with a purchase intent, because if the market reverses direction - you may end up holding something for years to come. --- Of the Bank nifty components, a common pattern is the last 45mts rally among HDFCBank, SBI, Axis and Kotak. HDFC Bk had a nice start and then it built on the gains, strong buying momentum towards the end ICICI had a relatively smoother slope, no pullback or consolidation intraday - just buying SBI started strong, went underwater and then the last 45mts ensured it ended the day with gains. AXIS had a similar chart like SBI, but the last 45mts gave it extra wings - the slope was approx. 80 to 85 degree Kotak was gradually fading underwater - but the last 45mts ensured it closes in the flattish territory. Indus Ind had a falling graph after a positive open. Took support at the Prev. close and final close was in positive territory. The final 45mts rally did have no effect on IndusInd. --- SPX vs Bank nifty - the spread is now at +6.32% vs 26.99%. US market will be closed today so we will not have any special macro related moves today. --- 15mts vs 1hr - Notice the clear breakout in the 15mts TF. Whereas its depicted as strong momentum in 1hr TF.
NSE:BANKNIFTY
by viswaram
1
06OCT2021Global markets (Last Session): 🟢 US markets closed higher paring most of the losses of previous session. But Rusell 2000, smallcap index closed lower. 🟢 European markets opened posItive & maintained the gains till end of sessions. Closed higher with 0.95% to 1.25% gain. 🔴 US 10YR yield rose 3.17%. DXY re to 93.97 mark. Crude oil shoots up another 1.53% and trading above 82.5 at 3YR high. 🔴 DXY after 3 days of cool off has started rising again and trading above 94.02. Seems like it was BO retest after BO. News And Additional Data: 🔴 Investors optimism outbit worry about the rising commodity prices, inflation, tax hike & tapering, Evergrande crisis. 🟠 Indian equity markets have complete disconnect with the global markets & have outperformed its global peers by miles 🔴 Rising commodity prices & surging crude oil above 82 will turn out to be a major concern for the emerging economies. Indian Indices Last Session: 🟢 #Nifty opened gap down but seen strong buying interest at lows. #Nifty closed the day near day high with 0.7% gain. 🟢 #BankNifty had a gap down too and remained volatile for the first half. Later joined #Nifty to close with 0.34% gain. 🔴 #Long buildup seen in #Nifty with PV breakout above PDH, Both indices closed strongly near the highest point of day. 🔴 FII's were net seller of 3185+ cr ignoring option figures which could be for hedging. DII were net buyers of 1868 cr. Technicals: 🟢 Nifty RSIStairs cooled off in daily TF but it remains overbought in W/M. D(67.00), W(75.45), M(79.74) & ADX D(39.66) 🟢 #Nifty trading above all the major moving averages 20/50/100 in D/W time frame. Took support near the 20 DEMA 17503. 🟢 #BankNifty also trading above all the major averages 20/50/200 DEMA. #RSIStairs on verge of a fresh breakout above 60. 🟠 With quarterly results ahead, market may not be in hurry to correct anytime soon. May consolidate for first 2 weeks. Global markets (Morning Cues @07.45 AM): 🔴 Asian markets trading lower. SGX trading trading flat indicating a muted opening in the Indian benchmark indices 🔴 US & Europe futures trading lower after strong buying in previous session. Rising commodity price remains a concern. Intraday Index Futures Levels 🟢#Nifty Fut 17556/17618/17690/17746-17875/17905/17935/17975. RDX Score- 15M(+6*)/75M(+5*)/1D(+5*)/1W(+6*) #Bullish 🟢 #BankNifty 37185/37375/37525/37749-37913/38048/38173/38345. RDX Score- 15M(+4*)/75M(+2*)/1D(+3*)/1W(+4*) #Bullish #MarketOutlook #TradePlan #PreOpenUpdate #IndexFutLevels #01OCT2021 (View all levels only at 15M candle closing basis) Intraday Index Trade Plan 🟠 After 2 days of strong gains, Indian benchmark indices may consolidate or see some profit booking near supply zone. 🟠 #Nifty trading & sustaining below 17747 on 15 MCB will become weak. Profit booking can be done around 17935 levels. 🔴 We will #Hold & #TrailSL the bullish #BTST #BullishBrokenWingStraddle (-2x ATM PE, -1x ATM/OTMCE) created yesterday. 🟠 New trades to be taken basis stairs signal in 75M which automatically updates in the telegram channel through bot.
NSE:NIFTY1!
by TradersVenue
BATA INDIA LTD.Bata India, this company has know for it's "AADARSH" chart, it's a clear cut buying/investing opportunity for the stock right now Reason for buying : Fundamentally strong company. If you see the highlighted area with attention,you will see a pattern the pattern made is called as "LONG TAIL DOJI" The pattern shows a Strong rejection for a script on downside This indicates that buyers are in power for the stock currently & this is the indication of a strong buying on a script. Target : (double) 3400+ in an year Stoploss: 1600 ( for long term) Swing Target 1900-1950-2000+ Swing Stoploss 1680. Close Positions on daily closings only.
NSE:BATAINDIALong
by phatak-nikhil123
CUP AND HANDLE PATTERN IN L&T CHARTL&T IS SHOWING STRONG SIGNALS OFF UPSIDE WITH BOTH TECHNICAL AND FUNDAMENTAL HAVING ITS SIDE, STRONG ORDER BOOK, IN ANTICIPATION OF STRONG ECONOMIC RECOVERY . TECHNICAL SIDE IS ALSO GOOD AS IT IS FORMING ITS LONG CUP AND HANDLE FORMATION WITH HEAVY VOLUME,ALL THE INDICATIONS SHOWING STRONG BUY SIGNAL. WE CAN SEE A SIGNIFICANT UPSIDE FROM THE CURRENT POSITION. CURRENTLY STARTING ITS 5 ELLIOT WAVE WHICH GIVE US MORE REASON TO BUY AND HOLD IT WITH YOUR SEAT BELT TIGHT.
NSE:LTLong
by vatsal27
BTC/USDT ANALYSIS MORE BULISH IN 2020Bitcoin Bitcoin Index 11,277.5+262.1 (+2.32%) 12:31:44 - Real-time Data 11,274.0 18:00 20:00 22:00 11,000.0 11,200.0 11,400.0 11,100.0 11,300.0 Start Trading | AD | CFD trading is risky Technical Summary 5 mins:Neutral Hourly:Strong Buy Daily:Strong Buy Monthly:Strong Buy What is your sentiment on Bitcoin Index? or (BTC) trading volumes in spot and derivatives markets have been surging since the digital asset rallied above the $10,000 level earlier this week. Bakkt reported record Bitcoin futures volume on July 28 and 29, which indicates that the traders who had been waiting for a trending move to start have established fresh positions. A similar volume increase was seen in the Chicago Mercantile Exchange (CME) and the other crypto exchanges that offer futures trading.
Long
by satapathyt5
(Positional Trader) Best Buy For HUL 1. FMGC is the SEGMENT not affected by lockdown. 2. Recently, On Day Chart HUL has Morning Star Formation , But it does not have a strong volume on last day. 3, So, It may recheck the price of 1984. Story of 1984-- 1984 is the 78.6% retracement level from recent low of 1857 to high of 2485 . 1984 also got the strong buy volume on day chart. 1984 is a strong support for now. 4. On Drawing AB=CD Pattern on HUL From Price level A= 1857,B = 2485,C =1984. Formation of AC=0.786. Lets Identity the reversal Point D Assuming BD=1.27 (to satisfy AB=CD Pattern Low Level), D Form at 2618 May be BD=1.61 (to satisfy AB=CD Pattern High Level) D Form at 2799 5. On Drawing Fibonacci Retracement from the recent HIGh and low . 2100 is 0.27 level . Price may find the resistence here. 5. So Buy Above 2102 Target 2618 , 2799 Stop Loss 1900 IF YOU LOVE MY STUDY PLEASE LIKE IT. IF YOU WANT MORE STUDY LIKE THIS FOLLOW MY PROFILE.
NSE:HINDUNILVRLong
by B-Power
FCL - Investment stock - Zero debt, strong balance sheetExpecting the scrip to surpass 52-week high with ascending channel as the small-cap company has strong fundamentals as also mentioned here : www.moneycontrol.com "The company’s names is Fineotex Chemical which is also known as FCL. Let us put it this way the company is one of India’s largest textile chemical manufacturer which provides customised solutions to the entire gamut of activities in the textile sector" " Rs 22 crore equity, Rs 11 crore shares because it is Rs 2 face value, zero debt, consistent dividend paying company. Earnings per share of around Rs 1.80 of last year should at least become to Rs 2.50 this year and should move to Rs 3.50 to 4 next year. This is without one major trigger which I am coming to I think early this month in the very same place Bombay Stock Exchange the company was rewarded as the fasted growing chemical manufacturer in India. " Technically, MACD indicators showing the way with bullish crossover when the MACD turns up and crosses above the signal line. Also, Checked and verified the relevant facts citied above in screener so the company remains strong buy for me and can even be averaged around crucial support line if the scrip gets minor pullback with sign of pledged stock www.screener.in Verified the same here as it is safe buy where risk to reward ratio is not much as the promoter holding is also more than 70% which makes it a conventional buy www.valueresearchonline.com Disc: Do your own analysis before investing :)
NSE:FCLLong
by amankavi
3
Auropharma is a good buy candidateOn the daily chart there was a spinning bottom formation after a gap down previously which indicated that the bulls are fighting back It was formed near the support levels which indicates a good entry to buy Next day 16/11/17 there was strong rally with a gap up indicating strong action supported by the bulls In addition the rally was supported by rsi levels it bounced from 34.23 Most importantly it formed a morning star candlestick pattern(strong buy) ACTION: Execute long on 17/11/2017 TGT-727 STOP-690 NOTE IF THE CLOSING IS ABOVE 729(100 WEEKLY MOV.AVG) STAY LONG FOR TGT OF 760 FOR THE NEXT WEEK
NSE:AUROPHARMALong
by manavtechresearch