INOX LEISURE Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock has formed triangle formation in daily chart, Sharp move expecting once stock come out from its formation. (Updated On 19th August 2014, Tuesday).

INOX LEISURE

• As per previous report published on Inox Leisure stock failed to close above its resistance @ 167.50 and after that stock fell down and made a low of 139. (Click here to see previous report published in INOX LEISURE).
• Now daily chart indicates that stock has formed triangle formation in daily chart, it indicates that once stock comes out from its formation then sharp move is expecting. As shown in graph no1.
• As per graph no2 stock will find strong trend line resistance around 160, 164 and 168.50, Once stock closes above its major resistance @ 168.50 and stays above then stock will favor bulls for next few days.
• Intraday close watch once stock starts trading above 168.50, if holds above in intraday trading then we can see some bulls action in Inox Leisure.
• Suggested Reading - DR REDDYS LABS will favor bull if stock closes above 2852.
• As per graph no 3 if stock holds above 168.50 and moves up then will find next strong resistance around 185 its 261.8% fibonacci retracement in weekly chart. Close watch.
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