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Aditya Birla Nuvo Ltd

Buying opportunity at 1050/60 with a stop at 1030 and final exit close to 1200-1250.



Analysis: On the weekly chart we see a breakdown from a wedge pattern and at present it is trying to take support at the long term trend line at 1050 however one can consider short term buying opportunity at 1050/60 with a stop at 1030 and final exit close to 1200-1250.
   
  • RSI Indicator: The RSI Indicator is showing negative divergence, prices  are making higher highs and RSI Indicator is making lower lows, On  weekly basis showing inherent weakness.   
  • Stock momentum Idx: The Stock momentum Index has shown a reversal from oversold level and this is sign of upside bounce where one can exit.
  • KST: This indicator on weekly charts is showing no strength and has been losing momentum.


(16.02.14)


Aditya Birla Nuvo(Weekly Chart)



























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