GOVIND RUBBER if we look at the price chart we can clearly identify that stock was in falling mode from past 1 years period, some trend change indication it has given in month of October.
as we can see in chart, it has able to move above its resistance trend line in a month of October, before changing the trend it has given a “POSITIVE CONVERGENCE” signal on chart, and even RSI able to move above its resistance level on chart so trend reversal was given confirmation at 15 rs. level.
with the recent chart development, we can see that stock is taking continues support at its supporting trendline, and even RSI not able to confirm the down move below its support level.
recent development clearly shows that RSI given a reversal signal from support level.
its a development of “ASCENDING TRIANGLE” on chart now RSI still not moved into overbought zone yet, so price and RSI still have scope for more up move.
with todays candle on chart, it clearly shows that its a big bullish candle development.
so overall indication is buy the stock above rs. 18 level and if close above 18 then hold delivery with stop loss of rs. 13 target 23-25-30
if able to cross above 25 level then there hold with buy price sl for more up move for new high also, if it take any reversal at upper levels then you should keep taking your profits also.