one can buy in supreme industries above 475 level, with sl of rs. 450 target 497-535
hold if price able to close above 475 level, anytime if price come below 475 for 1-2 hours make exit.
technical chart study
as we can see on chart that price is in up move from almost 3 years and moving in oneway.
we can even spot a “INVERTED HEAD AND SHOULDER” pattern on chart, which is having width of around 100 rs., and it has done HNS breakout at 415 level 100 rs. move from here can given target of 515 +-.
stock is taking support of trend line and rising so till the time we not see fall below this trendline we can cant expect a selling.
now as per candlestick pattern we can see that there was a “DOJI CANDLE” on chart couple of session back, and after that it has made “BULLISH OUTSIDE BAR” candlestick pattern on chart.
as per rsi we can see that rsi just has touch the overbought zone, and as per chart we can see that it has made “DIVERGENCE” on chart now, so moving above the level can given a “BULLISH POSITIVE DIVERGENCE” signal and if from here rsi and price both started to fall then we can see “NEGATIVE DIVERGENCE” on chart.
so basic study indicate that price need to move above recent high level and there after we can surly see some momentum in stock so trading for intraday or for weekly basis in this stock is suggested.