AMARA RAJA BATTERIES
- AMAR RAJA BATTERIES moving in a up channel formation this indicates as long as stock moves in this formation it will favaor bulls , technical charts also indicates stock is currently facing strong trend line resistance around 505, once stock closes above 505 and stays above then further strength is expecting for next 1-2 trading days.
- Intrday close watch once stock starts trading above 505 , if stays above 505 with volumes then intraday action is expecting from bulls.
- Suggested Reading - M&M is on the verge of bullish breakout, moving in a down channel.
- Technical charts also indicates stock is holding its 50 days moving average and from last 4 times stock took its 50 DMA support and bounced back. This indicates as long as it trades above will favor bulls.
- If stock moves up from current levels and closes above 505 then will find next strong resistance around 538 its 161.8% fibonacci retracement.
- Click here to see all the free trading reports (tips) published by us on AMAR RAJA BATTERIES (as per technical analysis point of view).
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