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* On a weekly chart, the stock has been trading with a positive crossover of 21*50Weeks Moving Average which can be considered as a Bullish Crossover which shows a Bullish movement in the counter.
* Furthermore, the stock has given a breakout of its “Rectangle Pattern” formation which indicates an upside move in the counter.
* Moreover, the MACD indicator has given positive crossover above base line which points out for a positive breath in the Stock.
* A daily momentum indicator RSI reading is at 66.48 level with a positive crossover which points out for a positive breath in the stock.
* Based on the above technical studies, we are expecting an upside movement in the counter in few trading sessions.
Buy United Phosphorus Ltd Feb Fut @ 816.50 814.50 Stop loss 796 Target 857.50
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