Nelco made hammer candle in monthly chart
Forming new support around 200-220 Entry @ 215-220 Sl 190 Target 350 mid term Target long term 750/800
Scrip is gearing up in ascending channel with higher highs and higher lows Breaking out from ascending channel can make the scrip surge till targets defined. Rest in charts. Bullish momentum sign 1) SMA - Price range is above SMA-15 and SMA-200 and SMA-15 is above-200 which gives strength to ongoing momentum. 2) CCI (Commodity channel index) - Above 100 3)...
Grab @ support for minimal Risk maximum Reward. Prev chart structure bullish & invites positional longs @ cmp for further trend continuation
Nelco at 7 years breakout, Potentially good for long term. One can keep SL 106