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ORIENT PAPER – TECHNICAL CHART STUDY

ORIENT PAPER_1

buy ORIENTPAPER above 26.50 on closing basis, sl 10 target 55-75-125-185

one can even buy in a range of 20-25 with same sl for holding only

1-2 years holding period

technical chart study

as per chart we can see that recently stock has started up move now, it has developed “PEANUT CHART PATTERN” on chart now, which is continuous patter, where price resume it uptrend after some days consolidation and consolidation period volume is falling in nature, which we can clearly spot on chart.

price also able to break the rising channel on chart now, and even rsi also taking support on chart.

so overall basic indication is one can even collect this stock in a range of 20-25 for investment or one can add it above 26.50 level which is its high level, still we think that stock is at basic rate now, so we think that stock is having much more potential to move upward but it can consume some time on chart for any big move, movement nature would be same as it has done in past, it will be movement then consolidation and again movement.

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