SKS MICROFINANCE Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock has made a bullish breakout from its Triangle formation, further strength expecting once SKS Micro closes above 310. (Updated on 02nd September 2014, Tuesday).

SKS MICROFINANCE

• As per previous report published on SKS MICRO stock had shown intraday action after breaking its resistance @ 287 , and after that stock made a high around 298. (Click here to see previous report published on SKS Micro).
• Now as per current technical chart no1, stock has made a bullish breakout from its triangle formation, and as per formation stock has shown sharp move after breaking.
• Suggested Reading - HPCL moving up from support, further strength expecting once closes above its trend line resistance.
• As per graph no2, stock will now test its previous top resistance @ 310, this indicates that once SKS Micro closes and stays above 310 then bulls will dominate in this stock for next few trading days.
• Intraday trading call - close watch when stock starts trading above 310, if holds above 310 during stock market trading hours, then intraday bulls action is expecting.
• Graph no3 indicates that stock long trend support is playing an important role, from last 4 times SKS Micro bounced back, so as long as it holds above it trend line support line bulls will be active. By looking at chart closely it indicates that volume is also increasing with increasing price, this will favor bulls to take stock further up.
• Graph no4 indicates that once stock closes and stays above 310 then stock will made a bullish breakout and will find its next resistance around 345 its 161.8% fibonacci retracement.
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• Even stock other major trend indicators like "MACD" and "Stochastic Oscillator" is moving in a positive zone , this signifies that price can move upwards from current levels as long as they remains positive. Stock 100 days moving average is too paying an important role in SKS Micro, from last 4 times it is moving up from 100 DMA, as long as holds above bulls will remain active but once closes below 100 DMA then stock will show first sign of weakness. Close Watch.
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