A significant downtrend has respected the support level of 420-424.
With the formation of a hammer candle at a high volume, it is confirmed that there will be a reversal in the trend.
However, after the formation of 2 bullish candles the uptrend is confirmed.
The RSI has also formed support and is now about to break its downward trend line
On Weekly Time Fram At Demand Zone.
At Support Zone.
Accumulate On Parts In Demand Zone.
Other Details Mentioned In Chart.
Investment View For Educational Purpose Only.
Fundamentally View :
As Per Internet Data Promotors stake has been increased.
Company Is Almost Debtfree.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not...
Waiting for stock to close above 514
There are positive crossovers at EMA (7,21) followed by EMA (7,50); Prices closing, above EMAs with increasing volumes.
Strong supports at close range of 478 and 455. RSI taking support above 40.
514, 548 (TGT1), 614 (TGT2)
478 (SL), 455
The stock has broken out from its consolidation mode and has resumed it stellar bull market rally it has been seeing since early 2014 from 100 odds! A beautiful trend following strategy can be implemented on the stock! Will take time but will surely reward in the long run!
Beautiful channel play with Kansai Nerolac. If it crosses 400 which is the first resistance, stock can fly.
Notice the hidden bullish divergence with M40ACD.
Buy above 400 with SL being Channel bottom.