DRAGON FLY DOJI FORMED TODAY.
THE SHARE PRICE SEEMS TO TOUCH 132 IN THE COMING 1-2 DAYS.
MAY BE IT WILL BE BULLISH ONCE THE FOLLOWING DEMAND IS MET IN THE BUDGET. THEN 150 CAN BE EXPECTED.
There is a demand by major players to increase import duty on paper products, currently at 0 percent as per FTA. If it does, it would also provide benefit to this sector.
129 is support n141 is resistance, if crossed then 150 is next target.
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS.
It is moving inside a down channel, however, its short term support is near i.e. 148.15 and also 200 DEMA is 147.33, so 147.33 can be considered as good support, if 147.33 is broken on closing basis, then it will open more downside and next support is 136.6 and then 127.xx.
However, if it holds above 149 level on 15th of this month, then it will face next...
The BO candle is not very strong and it requires follow-up buying to confirm the BO, although the volumes on the BUY side are greater compared to the sell side.
On the weekly chart, we can see all lower levels have been bought by the market.
I believe there is a strong momentum.
It is at the crucial point, I can see the triple top and hence follow up buying is a...
JK paper is in the stage 2 uptrend where it satisfies Mark's Minervini Criteria of 50EMA > 150EMA > 200EMA.
Over-all the paper sector is doing well, for eg IPAPPM is also in the uptrend.
MACD for daily and weekly is positive and RSI > 51
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