NeeteshJain
Long

Just Dial - Breaking out Down Trendline on Daily Chart (BUY)

BSE:JUSTDIAL   JUST DIAL LTD.
The price action has reached to the bottom and now we have noticed a breakout from a prevailing downward trendline which indicates a positive sentiment emerging in the price action. I have also noticed a MACD crossover and also RSI getting out from oversold areas. This also indicates positive sentiments. On weekly and Monthly chart I noticed a double bottom and doji formation, that signals a trend change.

It is trading at good risk reward and it is wise to take positions on current levels.

Target 1 : 600
Target 2 : 630
Stoploss : 540
Note: In case, if you would like to sign up for a one week free trial of my Equity FNO services then you may connect with me at neeteshjain01@gmail.com Regards
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