The stock has just broken through the 50 and 200 EMA. It also has broken through the trend line and has nicely taken support off of the support line ( blue straight line). My thesis is that it should go up with the next support level being around 650 price.
#AARTIIND notched up volume of 84070 shares by 10:53 IST on BSE, a 5.34 fold spurt over two-week average daily volume of 15736 shares. The stock rose 2.87% to Rs.949.35. Volumes stood at 10823 shares in the last session.
Showing Bullish result in Technical Parameter:
CCI is Treading UP
RSI is Treading UP
William %R is Treading UP
ROC is Treading UP
MACD Crossed...
AARTIIND - SHARK SHARK - time to bounce
Holding 890, stock can bounce initially to 960-990- levels and will revisit if moved as expected.
The stop is placed at 870
#AARTIIND
CMP 1550
Stop 1375
Target Open
Logic :
Cup and handle breakout witnessed in weekly chart accompanied with good volumes.
YoY quarterly np, op and sales has been increasing at a good rate over the last 3-4 quarters.
Premise:
1. Waiting for an OTE retrace
2. Possibility of a bullish divergence on the weekly timeframe
Execution:
1. 1:1:4 scale in between 1149-1187
2. Stop at 1100
3. Target 1410
Result:
1. A 2.62:1 RR trade is executed
AARTIIND in the bullish channel.
Oversold conditions reached on a weekly graph testify for the upcoming price action prediction.
Buy:1215
Stop: 1045
Take Profit:
1560
1903
(Others: Strong Buyback history last one at ~1150)
Check news and update in comments.
This is my first technical analysis. based the Zerodha Varsity checklist.
zerodha.com
Please comment on any mistakes.
1. Candle - Shooting star formed.
2. Support and Resistance - Price at resistance
3. Volume - Volume above 20 days MA
4. DOW Theory - price within the Trading Range
5. Indicators -
RSI - above 60
MACD - MACD histogram is...
