Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
* On a weekly chart, the stock has formed a "Hammer Candlestick” which is a Bullish Reversal structure and suggests an upside movement in the counter.
* Moreover, the stock has given breakout of its "Falling Trend line" which indicates a reversal move and base on which the stock could accelerate its upside movement
* Furthermore, the price has pulled up after taking the support of its lower "Bollinger Band" which shows a further regaining in the counter.
* On a daily chart, the stock has been trading above its 21 & 50 Days Simple Moving Averages which signify that the medium-term trend is bullish.
* A weekly momentum indicator RSI's reading is at 44.68 with a positive crossover, apart from this, the RSI has formed a Positive Divergence which points out for a positive breath in the counter.
* Based on the above technical structure, we are expecting an upside movement in the M&M in a few trading sessions.
To Read Complete Report & Disclaimer Click Here
For More choiceindia Disclaimer http://www.choiceindia.com/disclaimer.aspx
Above views are of the author and not of the website kindly read disclaimer