buy VENUS POWER at 2.35 sl 1 target 3-6-13-18-25-58
technical chart study
its very hard to study stock which are low price and with low volume but as risk in this stock is very low, so trying to put technical study in this stock.
as per the chart we can see that stock has fallen from rs. 86-87 level and bottom given till 1.25 level.
as per recent technical development we can see that, stock has made “SYMMETRIC TRIANGLE” on chart now and able to move above the Resistance level.
triangle is having a range of rs. 3-3.5 so we can expect this move.
at bottom level stock has given a “POSITIVE DIVERGENCE” signal and with the price rsi also able to move above Renaissance and still having a scope for movement.
so as per our assumption and expectations if this is the bottom for the stock then one can just buy very small qty with the risk of rs. 5k to 10k and hold this stock till it doing the movement. as of now stock also moving above 200 dma and other indicators showing a scope for move, even last 2-3 times it move above 200 dma but that time other indicator were not supporting the move. so our intention is, that one can invest very small amount with very small risk, and if stock able to move this time then its interesting to watch this on chart with the further levels.
if one can look at the chart of kiri ind, just see what happen with that, given same divergence signal and stock move above resistance level at rs. 6.5 and it moved one way by making higher high’s and higher lows till rs. 181 in just 10 months.
so take very small risk as your investing in options, and buy at this level and forget it for some time, if stock move good then no prob. if it fall or not move then risk is also limited.