Current seems to be back in Amaraja Batteries. Stock has been one of the worst performers this year but with auto sector reviving, this seems ready for a upside turn. Has taken support at a imp fib level. Also view the SANGAM (moving averages in a very narrow range and price is also very close to it’s short/med/long term avgs).
I generally consider this Sangam as a good sign for a possible reversal. Risk taking traders can go long at this point whereas risk averse can wait a bit for more demand to come (keep watching the green vol bars) and then enter as per their risk appetite.
RSI and MACD are also supportive.
I generally consider this Sangam as a good sign for a possible reversal. Risk taking traders can go long at this point whereas risk averse can wait a bit for more demand to come (keep watching the green vol bars) and then enter as per their risk appetite.
RSI and MACD are also supportive.
