BALAJI TELEFILMS
- As per previous report published on BALAJI TELEFILMS stock gave a strong up move after closing above its golden ratio @ 53 and after that made a high of 79. (Click here to see previous report published on BALAJI TELEFILMS).
- Now daily chart indicates that stock is currently moving in a range bound zone , this indicates sharp move expecting once stock comes out from it range, If stock closes and stays above 79 then stock to favor bulls for next few trading days.
- Intraday close watch once Balaji Telefilms starts trading above 79, if holds above then intraday bulls will get active and we can see some intraday action.
- Suggested Reading - ARVIND LIMITED moving in a up channel formation, stock will be favored by bulls, close watch.
- As per chart no 2 Balaji is holding its 50 days moving average . By looking at chart closely , stock took 50 DMA support from last 4 times and bounced back, and this time also moving up from 50 DMA , so as long as stock holds above it will favor bulls, but once stock closes and stays below 50 DMA it will be favored by bears and stock will give first sign of weakness.
- Even stock major trend indicator "MACD" is moving in +ve zone this indicates stock will move up.
- As per graph no3. if stock closes above 79 and moves up then stock will find next strong resistance around 91 its 161.8% fibonacci retracement. Close Watch.
- Click here to see all the free trading reports (tips) published by us on BALAJI TELEFILMS.
- Intraday Trading Tips.
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