2 strong buying candles have emerged with volume which is supported by crossover of 125 EMA on 15 min chart. Mid line of schiff pitch fork is now acting as resistance. Once it takes out center line on 15 min closing basis then expect upmove to continue. Can buy with SL below 235
On the daily chart stock price has formed "Symmetrical triangle " pattern and has given a breakout on a closing basis
* This breakout is accompanied with an increase in volume which supports bullish sentiments ahead
* The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in positive territory which supports upside momentum to...
Looking for a breakout - entry above 387 ( aggressive guys can look for entry at cmp with strict SL - keep initial position light)
SL - closing basis - 355
Target - open
NAM-INDIA (NIPPON LIFE INDIA ASSET MANAGEMENT LTD) looks good as per elliottwave counts.
Use your own analysis before taking trade.
Views are for Education.
NAM posted strong Q3 results.
and finally is out of its consolidation phase. it can deliver good profits in short term swing trade.
stop loss- 350-352
rsi and macd giving clear buy signal.
note: it has got out of its consolidation phase with volume.
Happy trading.
