RUPA & CO. is showing positive crossover on daily RSI & CCI, Friday's volume was too high but counter couldn't sustain at higher level. When you go on weekly chart you will find that counter has reversed twice from the support zone of 225-230 (pink line). This time we saw huge volume on weekly basis. In addition to this, weekly candle's body has almost covered last week candle's body and also close above last week's open (red candle). RSI has crossed with minor difference on weekly basis.
Investor's can accumulate counter in dip at 253 and 244 with stop loss below 225 (daily closing) for target 1 - 300 ( weekly mid point of 20 BB)
Investor's can accumulate counter in dip at 253 and 244 with stop loss below 225 (daily closing) for target 1 - 300 ( weekly mid point of 20 BB)
Trade active:
cmp 249.50. Trade initiated