Shown above is the 60 minutes chart of Jain Irrigation. As we can see that in the last trading the stock has given multiple breakouts. A triangle or a wedge pattern breakout and also the breakout of a firm downward sloping trend line. The level 62.3 was stopped by the stock a couple of times in recent days making it as a strong resistance, but the stock has breached the level unlocking higher levels. Also we can the moving averages are lined up very nicely in a perfect bullish pattern holding the stock to give an upward thrust. In addition to the breakouts, the dried up volume off the stock has also started building with accumulation at lower levels. Therefore, I suggest to buy the stock for intraday targets of about 64.2 maintaining a stop loss below 61.60.
FOLLOW US ON EMAIL
JOIN 500+ EMAIL SUBSCRIBERS. ENTER YOU EMAIL ADDRESS IN THE FORM BELOW AND RECIEVE ALL POSTS DIRECTLY IN YOUR INBOX.
Subscribe to:
Post Comments (Atom)
YOU MAY ALSO LIKE
-
Shown above is the weekly chart of Transformers And Rectifiers Ltd. As we can see that the stock has given multiple breakouts of a tripl...
-
Have you wondered why only a handful say 5 in 100 or 10 in 100 people are able to earn in the stock market? All the others fail. A major r...
-
Buy yesbank at cmp 863 for intraday target of 870-875 stoploss below 850 can hold it as positional call also for targets of around 900 and ...
-
HOLD YES BANK AS A POSITIONAL CALL WITH THE POSITIONAL STOP LOSS GIVEN BELOW 835
-
A STOCK MARKET is basically an aggregation of large number of BUYERS and SELLERS. By their activity these BUYERS and SELLERS give rise to...
No comments:
Post a Comment