On weekly basis the price is taking support on 50 EMA and Ichimoku cloud. Also sometime back the price broke above the downward channel and now taking support above the channel. Thereby poised to reach heights. Also there is a positive divergence where the index #Nifty50 major top was formed on January 28, 2018, since then it has moved down and formed a symmetrical triangle. Whereas the formation for #SanghviMov has been in upward broadening channel and also is leading the index as can be seen in price above the red line. Now the index is gearing up to reach higher zone. #sanghvimov will move higher at a faster pace.
Based on the above I suggest to buy CMP and SL below the weekly downward fractal for initial purchase, and add to positions as price touches the Kijun.
Happy Investing / Trading
Regards
Shamoil
Based on the above I suggest to buy CMP and SL below the weekly downward fractal for initial purchase, and add to positions as price touches the Kijun.
Happy Investing / Trading
Regards
Shamoil
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Can be added after today's move, as now its a long term fundamental value buy.