Well I am late in identifying the breakout but on the whole its clear that this is the counter which has a buying interest. Following are my reasons:
1. Breakout of the falling (RED) trend-line with heavy volume.
2. Increase in On Balance Volume.
Since it has reacted to 50% level after the move from 39 to 48
Delta = 48 - 39 = 9
50% Delta = 4.5
Support level = 39+4.5 = 43.5
I expect MRPL to have Show some strength.
No comments:
Post a Comment