Look at LL1 to LL3 on price chart and LL1 to LL3 on RSI chart, clearly the bullish divergence is seen in this stock.
This is not a recommendations, do your own analysis.
The trade started moving as per analysis.
Currently it is at major support. To break this level it need huge volume and high momentum.
Due to good result it will attract big bulls in coming days who will push the price.
Wait to buy after following signal only.
1. Price may touch 200 SMA i.e near ₹765 in coming week.
2. After this support if green candle appear , new buy signal will come as per golden cross rule.
3. Near ₹765 fib. Support is also there.
4. When price will touch ₹765, it may touch RSI 40 and will reverse from there.
This not a recommendation, plan your trade...
Reasons to buy at Rs.625:
1. Stock took RSI 40 support after year 2008.
2. Monthly candle closed with no selling pressure.
3. Volume is more than from previous months.
4. Price taking support on 200 week SMA from May-2022 (Previous 200 week SMA support in 2010).
Targets : Previous swing highs weekly basis.
SL : Price closing below 200Week SMA.
This analysis is...
Following points shows bottom formation of Zensar :
1. Monthly RSI support of 60.
2. Monthly fib. support of 61.8%.
3. Daily RSI bullish divergence.
4. Increase in Volume.
5. Spinning top candle on 1st Aug with high volume.
6. W pattern.
7. Volatility divergence.
Buy at ₹255
SL at ₹ 245
R:R = 1:3
This is for educational purpose only.
Perform your own...
