BUY AHLUWALIA CONTRACTS INDIA LIMITED (NSE: AHLUCONT)

BUY AHLUWALIA CONTRACTS INDIA LIMITED

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 weekly chart, the stock has formed a Cup and Handle Pattern and may give breakout of its neckline which indicates a further upside movement in the counter.
• An MACD indicator is showing a positive crossover on a weekly chart which points out for a positive breath in the stock.
• A weekly momentum indicator RSI is trending at 63.20 after tested a support of its mid line which caused for a bounce back movement and can expect a replicate move .
• Based on above technical structure, we are expecting a good upside movement in the counter for the upcoming trading session.