FINOLEX CABLES Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock stuck is a range bound zone, We can some sharp action once it comes out from its range bound zone. (Updated for 25th August 2014, Monday).

FINOLEX CABLES

• As per graph no1, stock is moving in a range bound zone, we can see some strong action in Finolex cables once it comes out from it range bound zone, during its range zone we have witnessed that stock breaks its range and moves back up again, as shown n graph "Fake Breakout".
• Suggested Reading - FINPIPE (Finolex Inds) moving up from support, further strength expecting once closes above its resistance.
• Technicals also indicates that stock is trading above its 100 days and 50 days moving average, so as long as stock is trading above 100 DMA it will be favored by bulls, by looking closely ,  Stock is moving up from 50 DMA this will favor bulls.
• If Stock closes and stays above its previous top @ 221 then will find next strong resistance around 237 its 161.8%  fibonacci retracement.
• Intraday close watch once stock starts trading above 221, if holds above then intraday bulls action is expecting.
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