I am looking this stock if brakes interim trend and close above 352 can start new Move towards higher high ,i am looking weather tomorrow is last day of the week , will it close ?
Lets see
Regards
June 12th 2017 - Open and close are at the lower band of the candle, huge volume and RSI at 30 suggests more pain in Ujjivan. Does it come true?
Disc: Invested and biased. Not a solicitation to buy/sell/hold
UJJIVAN FIN IS MOVING IN A RANGE OF 290 TO 334. EVEN TODAY IT SAW RESISTANCE AT 234, SO WHY I AM SAYING IT IS READY FOR A BREAKOUT?? REASON BEING, LOOK AT THE DIVERGENCE SIGNAL MACD IS GIVING, IT SHOWS STRONG INVESTOR PRESENCE AND THE STOCK IS BEING BOUGHT AT EVERY DIP, ALSO IT IS TRADED IN FNO SEGMENT AND IT WAS IN BAN PERIOD TODAY WHICH EXPLAINS TO US THAT...
Ujjivan Fin Serv has beautifully took support over the support line and broke the channel with a very big no. of volumes...
Points which confirms Bullishness :
1. Took support on support line and based on that support, It has broken Channel...
2. Very High no. of volumes traded on the last trading day of week..
3. Looking towards higher time frame...
The stock has been beaten down black and blue from 450 odd levels to 285 zone. I guess time to pick the share .May be some sort of bottom fishing eh.!! CMP 299.50 buy between 280---300 stop 270 Target 315/330. RSI looks for a major rebound.
Technically the stock is heading higher high , and there are some small profit booking is going on
I'm looking to enter between PRZ of 391/393 with stop 383 for target of 400/405
as I know the risk to reward is not good when compared to stop price and target price but in day trading we cant just put the stop where the price may react to visit , so its important...
