Jindal Poly - Breakout candidate
Stock has weak fundamentals - this is purely technical play
Weekly Chart
Previously Price had strong resistance @ 200 EMA weekly
That resistance became support and price created double bottom formation @ 200 weekly EMA
Horizontal resistance breakout with higher than average volumes
Stock outperforming NIFTY based on Comparative RS
MACD, RSI and ADX supporting bullish bias
Trade Execution
Buy 900-987 range
Stop Loss below breakout candle low - 855 on weekly basis
Trail with EMA 20 or SuperTrend 10,3 on daily chart
Weekly Chart
Previously Price had strong resistance @ 200 EMA weekly
That resistance became support and price created double bottom formation @ 200 weekly EMA
Horizontal resistance breakout with higher than average volumes
Stock outperforming NIFTY based on Comparative RS
MACD, RSI and ADX supporting bullish bias
Trade Execution
Buy 900-987 range
Stop Loss below breakout candle low - 855 on weekly basis
Trail with EMA 20 or SuperTrend 10,3 on daily chart
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