PIPAVAV DEFENCE AND OFFSHORE
Weekly chart of Pipav indicates that it has closed above its major resistance hence showed a bullish breakout signal.
Its previous resistance will now act as a major support, as long as stock holds above 98.50 bulls will be favored and further price rise can be seen in coming days.
If stock moves up further then it will find strong resistance around 120 as shown in above image.
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Stock also moving up from 50 weeks moving average.
Its major indicator MACD and slow stochastic is moving in +ve zone this will favor bulls but RSI has entered in overbought zone this shows a sign of caution.
On December 24, 2015 Pipavav share price was closed at 100.25.
Stock was on new in various online sites :-
According to reports, the Ministry of Defence has initiated various policy measures to address the concerns of the industry for ease of doing business. Provisions have now been made with intent to provide greater flexibility to the vendors in offset contracts and reinstatement of services as an avenue for discharge of offset obligations and level playing field to Indian vendors in Capital acquisitions.
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