Recommendation
Buy
Target
: 37&40
Recommended
Price : 35
Stop
Loss: 33
STOCK
SUMMARY:-
Major
trend of stock is bullish on chart. It has been trading with higher
top and higher bottom formation on charts. It has shown good
consolidation on higher level and now it is likely to give upside
break out from resistance level. We recommend the stock to buy as it
is sustaining above 50 DMA. One can keep the stop loss of 33 support
of 200 DMA at and stock is likely move north ward in upcoming session
and targets of 37 & 40 can be seen in short term.
CHART FORMATION:-
Stock has given a good consolidation formation of short term on intra day chart. An appearance of moving average golden cross on hourly chart showing that momentum would be bullish in upcoming session we recommend to buy the stock on dip.
INDICATORS:-
MACD Line has crossed above its single line, which can bring upward momentum in the stock.
RSI is trading above 50 mark showing that stock may remain bullish in upcoming session.
On ADX there is a bullish crossover of positive DI and Negative DI and crossing of ADX above 25 can bring further buying in the stock.
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