ARIES AGRO Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock moving in a up channel pattern, and also moving up from support, further strength expecting once Aries Agro closes above 100. (Updated on 03rd September 2014, Wednesday).

ARIES AGRO LIMITED

• As per previous report published on Aries Agro, stock closes above its top and bullish move was expected, as mentioned stock touched its resistance around 96. (Click here to see previous report published on ARIES AGRO).
• Now current technical chart no1 indicates that stock is moving in up channel formation, so as long as it moves in its pattern it will be favored by bulls, but once it breaks its up formation on down side then sharp weakness is expecting. On upper side stock will find trend line resistance around 100, once it closes and stays above 100 then further strength is expecting and stock will be on bulls grip for next few trading days. Chart also indicates that volumes are also favoring Aries Agro, with continues up trend volumes are also picking up, this will favor bulls.
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• Intraday call - close watch once Aries Agro starts trading above 100 during market hours, if stock holds above 100 then intraday bullish move is expecting.
• As per graph no2, 100 days moving average is playing a important role , by looking closely it indicates that from last 4 times stock touched 100 DMA and bounced back, and this time too same happened, this will favor bulls. So as long as stock holds above bull will be dominated in this stock.
• As per stock analysis (chart no3), if Aries Agro moves from current levels and closes above 100 then bulls may get active and price improvement can be seen . So on upper side will find next strong resistance around 114 its 161.8%  fibonacci retracement.
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• As per chart no4, currently stock is also moving up from 50%  fibonacci retracement and stock major indicator like "MACD" and "stochastic oscillator" is moving on positive direction , so as long as they are moving in +ve direction we may see some price rise in coming days.
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