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| Stock pick of the day |
Recommendation
Buy
Target
: 10.600 & 11.400
Recommended
Price : 9.95
Stop
Loss: 9.60
STOCK
SUMMARY:-
Major
trend of is bullish on chart. It has been trading with higher
top and
higher bottom formation with positive biasness now it is
facing
resistance of 9.95. We recommend the stock to buy the
stock if it
crosses its resistance mark of 9.95. One can keep the
stop loss of
its previous significance low of 9.50 and stock is likely
continue
north ward movement in upcoming session and targets of
10.60 &
11.40 can be seen in short term, while support of 200
DMA at 9.60 on
hourly chart can act at stop loss.
CHART
FORMATION:-
Stock
is forming ascending triangle with the support of 200 DMA
on hourly
chart and 50 DMA placed above 200 DMA and
expanding of golden cross
showing that momentum in the stock
may remain positive and likely to
show northward movement with
expanding of bullish gap and the
breakout of upper resistance
level.
INDICATORS:-
MACD
Line is likely to cross its single line, which can bring
upward
momentum in the stock.
RSI is
also trading above 50 mark on daily charts and showing
conversion
with prize trend.
On ADX positive DI Placed above negative DI and
ADX is about
to give breakout from 25 mark.
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