* On an hourly chart, the stock has given break out of “Pennant Formation” which is a continuation pattern, Suggests an upside movement in the stock.
* Additionally, the stock is trading above it’s 21 and 50 Hourly Moving Averages which indicate strength for an upside movement.
* On a daily chart, a sudden spurt in the volume has been witnessed during trading session which shows an accentuated buying in the counter.
* A momentum indicator MACD has given a positive crossover with signal line and trading above zero level line which points out strength in the trend.
* A daily momentum indicator RSI reading at 61.42 level with a positive crossover which points out a positive breath in the stock.
* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.
Buy Surya Roshni Ltd @ 344.00-345 Stoploss 330 Target 378
To Read Complete Report & Disclaimer Click Here
For More choiceindia Disclaimer http://www.choiceindia.com/disclaimer.aspx
Above views are of the author and not of the website kindly read disclaimer