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If we look at the chart of this stock, its a amazing move we can observe on chart in no time.

amazing thing to watch is stock never moved into oversold zone after march 2013 where it made its recent bottom with “POSITIVE BULLISH CONVERGENCE” on chart.

and a big up move came in stock after a heavy consolidation of 1 to 1.5 year on chart, which multiply the stock price by 2.5 time in 1year of time period, so this is the clear indication that stock is moved into long term bullish trend and which can continue for more up coming time on chart with the help of corrections and up moves.

as of now we can see that it has made “RISING WEDGE” pattern on chart, and there is a huge and big divergence forming with the rsi now.

stock able to give strong bullish candle in last session and able to break its life time high on chart with the strong life time close on chart now.

at this high point with divergence rsi still scoping for a upper space which can provide a good up move or price lift in a stock if price is able to confirm the same condition on chart now.

if you go into weekly chart of this stock you can find more strongness again, as divergence there is more stronger than daily trend, and its has given a FLAG breakout also in recent past which still having a pending move.

so with the overall basic study we can indicate that if price of stock able to move above 570-580 range then we can expect good up move for a short term too, where as price having a strong support level at 550-520 levels, till the time it sustain above this range we are open to expect a strong move above 570-80 for the levels of 650-720 for upcoming days.


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