Wednesday 24 December 2014

JP Associate Buy

JP Associate Buy

Period 1 Month
CMP 25.40
Entry Level 25
Stop Loss 22.5
Target 1 28
Target 2 30.5
The stock is currently
consolidating around this level.
We can see in chart that stock
has gone above its 10DMA at 25
and now there can be some Bull
Run from here. Stock has also
made ‘Triple Bottom’ around 23.

Stock is making ‘Bullish Hammer
Pattern’ after the form of ‘Insider
Bar Pattern’ indicating upside
trend with limited downside risk.

Stochastic Oscillator is also
moving in positive trend
indicating upward movement
along with increase in volume.

10day SMA and 50day SMA is
stood at 25 and 29.500. We can
see stock to go up till 28-30.5
once it goes and close above
25.80 odd level.


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