ROSSARI BIOTECH trading at or Near demand zone so can be a good positional pick at CMP as 1190 level is acting as a good support level for now or can go with buy on dip strategy till 1155-1147 zone. also keep watch/eye on triangular pattern breakout on either side. would suggest to go long with a strict stop-loss below 1147 level (exit only when one day candle...
Rossari Biotech is a fundamentally strong company. The stock has always been taking support at 50ema on daily chart. Seems like an ideal time to go long!
seen breakout earlier in Rossari Bio. this can be the retesting of lower levels. can be a good pick around 849-859 zone only if manages to sustain there, if breaks this zone, may show 830, 820 levels downside. (beware of news, as this view of mine purely based on technical levels).
NSE:ROSSARI
Price is above 50MA.
Price reacts from 50M.
Low dead volume during the formation of lower low.
volume spike during the formation of higher high.
Price is possibly under the process of making a triangle pattern which could result in bullish momentum at its upper trend line breakout.
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
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I suggest going long on rossari biotech with a tight stop loss below daily candle low. Big moves can be evident from the chart in near future. The signature of Big fish buying is clearly visible.
Disclaimer
I’m not a SEBI registered advisor. I’m also a market learner like everybody else. The analysis given below is based on my own market experience in the last...
