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BALAJI TELE – STOCK IS HINTING SOME TREND REVERSAL, IS IT?????

balajitele

with the long term chart of stock we can see that it has made a big rounded bottom.

today stock has also touched its 8th month high on chart.

we can even see “SYMMETRIC TRIANGLE” development on chart which has given a breakout at 40 level.

with the trend line we can see that stock has taking support on every bottom as of now.

we can even see development of “BULLISH POSITIVE DIVERGENCE” on chart.

so as per the basic study if price able to give close above 47.50-48 level then one can buy positional with 36 as a stop loss and targets at 60-75

as its already enter into the overbought zone, some we can see some sudden jump and then some fall with consolidation so it can result in good trading keeping support levels in mind.

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