Foram_C

Buy IGARASHI with short term target of 900

Long
NSE:IGARASHI   IGARASHI MOTORS IN
The stock has been under protracted downtrend after testing highs at 1124. After remaining in a falling channel for over six months, a potential base has been formed in the 800-840 zones. The stock ended above its upper Bollinger band some time back indicating further potential for an upside. With bands being 40% narrower-than normal, the possibility of a sharp mover in prices further increase. MACD remains in continuing buy mode. A fresh MACD positive crossover is seen on Weekly Charts and it now trades above its signal line. RSI is seen reversing from a pattern support and is seen inching higher.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.