- I love this stock in BSE 30 index . Held above the UpTREND line. When the market bounces upside this is a potential BUY after sufficient technical confirmation.
CANDLE STICK TREND ANALYSIS
o · The 2 year weekly chart has held beautifully above the 20 day , 50 day and 200 day Exponential moving average. Upon a closer look , it has formed a nice ascending triangle, with a break above 2800 suggesting more upside to come.
o · The one year daily chart is depicting that ascending triangle in closer view. Inspite of all the downtrend across the world the has magnificently held ablove all the moving averages. This is what extremely impressed me.
o · The direction that stock want to take ( upside or downside) will be clearly indicated by the MACD histogram which is also forming a triangle pattern
POINT AND FIGURE TREND ANALYSIS
· The stock is trading well above it’s BULLISH uptrend line that it formed since march ‘09
· A print of 2900 in the stock price will give a significant buy signal called a
TRIPLE TOP BREAKOUT
· Until then the stock remains on watch and hold signal .