BUY MAN INDUSTRIES (INDIA) LIMITED ( NSE : MANINDS )

6 Apr

BUY MAN INDUSTRIES (INDIA) LIMITED ( NSE : MANINDS )

 

 

  • The stock has been trading as per the Momentum Triple Pattern theory in all time frames such as daily, weekly and monthly chart which indicates that the trend is up and the stock could further accelerate its upside movement.
  •  On a daily chart, the stock has formed a Ugly Double Bottom Pattern and given a break out of its neck line and also showing a positive crossover of 20*50 days exponential moving averages which indicate a further upside movement  in the counter.
  • On a weekly chart, the stock has tested a support of its 20 weeks exponential moving average and given a breakout of its downward sloping trend line which suggest a north side journey in the stock.
  • An MACD indicator has started to trade above the zero line and RSI is trending above the average line with forming rising bottoms which point out for a positive breath in the stock.
  • Based on above technical structure, we are expecting a good upside movement in the counter for the upcoming trading session.

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