CESC LTD
- As per previous report published on CESC stock gave a gave sharp intraday move after breaking its golden ratio resistance @ 714 and so far made a high @ 723. (Click here to see previous report published on CESC LTD).
- Now technicals indicates that stock has closed above its golden ratio resistance and made a bullish breakout, as shown above in graph no1, so as long stock holds above resistance it will be favored by bulls and on upperside will find next strong resistance around 785 its previous top.
- As per graph no 2 stock is holding its 100 day moving average , by looking at then chart closely it shows that from last four time stock touched its 100 DMA and bounced back, even this time also stock touched 100 DMA and bouncing, so as long as trades above bull will bee favored. Close Watch.
- Suggested Reading - FINOLEX CABLE moving in a range bound zone, sharp move expecting once stock comes out from its formation.
- As per graph no 3 stock major indicator "MACD" is moving in +ve zone and above levels zero and other indicator "stochastic oscillator" too moving in +ve zone both indicating bullish signals, stock third indicator "RSI" is moving below level 70 this indicates stock is not in overbought zone , this will favor bulls to take stock further up.
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