V-Guard Industries Limited
VGUARD has been consolidating while holding firmly above its support zone of short term moving averages on daily chart. Considering its chart pattern, we expect a strong surge in near future. Traders can accumulate fresh longs in the given range.
22/09/2017 9:50:26 AM
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* On a daily chart, the stock has been trading as per the Momentum Triple Pattern theory which signifies a bullish sentiments in the counter.
* Moreover, the stock has breached above the 50% Fibonacci Extension level of its last swing (157-199.70-184.55) which suggests the stock to move further up to 100% Fibonacci Extension level.
* A daily momentum indicator RSI reading is
* On a daily chart, the stock has been trading as per the Momentum Triple Pattern theory which suggests a bullish sentiments in the counter.
* Moreover, the stock has been trading with a strong support of its 20 days exponential moving average and it is forming a bullish candlestick with rise in volume activity which indicates an upside movement in the counter.
* On an hourl
* On a weekly chart, we can see a Shooting star candlestick formation after an upward movement which is a trend reversal pattern and may lead the stock to move in a southward direction.
* On a daily chart, the stock has given a breakout of its lower log of Rising wedge formation which is a bullish reversal pattern and indicates a downside move in the counter.
* On an hourly
* Arvind reversed after forming Triple Top pattern around Rs417 and later it slipped to 9-day closing low.
* Fall in the key technical indicators-Stochastic and RSI post their negative cross-over is signalling near-term weakness in the stock.
* MACD is also on the verge of negative cross-over and coinciding with our view.
* As per the current daily set-up, we belie