Anant Raj Ltd showing strength - Trading in Upward channel (BUY)Daily charts of this Real Estate company show higher highs and higher lows as it trades in the upward channel. It broke above resistance of 45-46 levels (aug 2015 & Jan 2016) in June 2016 topping at 62 levels and then crashing again below the 45-46 level (which failed to act as support) in nov 2016 making a low of 33 (almost 50 % correction).
In feb 2017 it conquered the 45-46 resistance level again and is making higher highs and higher lows as you can see highlighted in the chart.
RSI maintaining above level of 50 indicate strength of current upmove with rise in daily volumes.
Trading Strategy
Buy @ current levels of 53
Stop loss : 49.50
Target : 60
Reward to Risk - 2:1
Trade Safe !
