INOX LEISURE Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock witnessed selling from its major resistance, will favor bulls once closes above 171.50. (Updated on 23rd August 2014, Saturday).

INOX LEISURE

• As per previous report published on INOX LEISURE , stock gave a sharp up move after breaking its triangle formation and trend line resistance @ 160 and intraday made a high @ 171.50. (Click here to see previous report published on INOX LEISURE).
• Now current chart indicates that stock again failed to close above its previous resistance @ 168.50 and made a new high after breaking its previous top. Technical indicates once stock closes above 171.50 and holds above then Inox looking bullish for next few trading days.
• Intraday close watch once Inox starts trading above 171.50 if holds above then intraday bulls action expecting.
• Suggested Reading - TATA MOTORS facing strong resistane at current levels , will favor bears as long as trades below.
• As per graph no 2 if stock holds above 171.50 and moves up then will find next strong resistance around 185 its 261.8% fibonacci retracement in weekly chart. Close watch.
• By looking at graph no3, stock is holding 50 days moving average since long and currently bouncing back from 50 DMA, this will favor bulls. Even stock major trend indicator "MACD" and "Stochastic Oscillator" is moving in positive zone this indicates stock can move up further from current levels.
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