How ecstatic you feel when you want to reach someone & you connect him on the first attempt- That's how I felt as I dialled the correct number on Just Dial- expected a bullish opportunity only if rectangular box was taken out on top else I was expecting 480-485 zone to be kissed on the downside.
Vow - It kissed 485 -Bang on Target.
Likely If Just Dial Crosses the center band which comes roughly in the area 535-540 zone -shall give important clue that It wants to head up & end its downtrend which started in Aug2014 Highs@1894
Since Aug2014 highs@1894 -It has been falling into a channel.
There is a consolidation in the form of a rectangular box - likely If Just Dial crosses & sustains above 520 -522 zone -One can look to stay bullish or else looking out for a support in the handle 480-485 with the rising trendline & observe for a bounce to take any buying opportunity.
The price action breaks out from the prevailing downward moving trendline and indicates bullishness. Targets can been taken to 61.8 Fibonacci levels at 495, stoploss 464
JustDial's correction is potentially completed which also retested the breakout trendline around 78.6% fibs. One can go long on the stock at current levels with Potential Start of 3rd Wave Rally which would take the stock higher and at a faster pace. Short terms targets are around 750 and longer term targets are around 1000 levels and more. Details are on the...
