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ASHINA HOUSING – TECHNICAL CHART STUDY

2015Feb-ASHIANA HOUSING LTD-800x600

as per the chart development we can see that stock is moving into good uptrend from past 1 year time period.

even with the rsi it has given “NEGATIVE BULLISH DIVERGENCE” signal upside, so expectation of breakout move can be good at this stage.

even it has given a flag breakout last session, but we need to wait for the confirmation now.

stock able to move above rising Resistance level last session. but the horizontal resistance still exit, once it able to cross that also, then we can see some fast moves in stock.

overall basic study and indication are clear that, if stock able to move above 275 level then with the support of 260 for short term one can look for up move till 300-325 levels also in coming session, but one thing to remember is stock trading at higher level, with the rsi moving into overbought zone above 75 level, so if it able to break mention support then up move will be restricted here only, what we are looking for is fast extended move at this top level.

 

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