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Mangalore chemicals and fertilizers share price chart showing bullish candlestick pattern - updated for 28th December 2015, Monday


MANGALORE CHEMICALS AND FERTILIZERS LTD

Stock has formed long bullish candlestick pattern in daily chart technical indicates bulls will be favored and further intraday price rise can be seen once stock holds above its yesterdays high @ 49.65.

Stock also moving up with sudden increase in volumes this will favor bulls and further action can be seen in coming days.

If stock moves up further then on upper side will find next strong resistance around 52.30 as shown in above technical image.

Suggested reading - Visit link below to read article on candlestick pattern.

Stock major trend indicator "MACD" and "slow stochastic" is moving in positive zone this indicates further price rise is expecting in coming days.

RSI indicator is on the verge of entering in overbought zone, as sign of caution will be generated once it holds above 70 levels.

On Thursday, December 24th 2015, Mangalore chemicals and fertilizers share price closed at 47.70.

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