Subros looks good on charts as it hasnt fell like other stock has been through.
has made fantastic bullish patterns which technical analyst like to learn and move through them
Positives
1. it has given breakout from price channel which is a bullish pattern.
2. Break out from Range - subros after giving BO from falling wedge remained in range and now it is able to sustain above the 340 odd levels.
3. 200 DMA - well placed above 200 day moving average. which is healthy and +ve sign as per technical analysis.
4. Double Bottom : it made double bottom near 275 indicates the bullishness in stock & even we can say rounding bottom type pattern from their.
5. leading indicator RSI above 50 another good sign.
6. another indicator MACD which shows direction is positive as well.
7. after drawing Fibo levels we can see 375 being a resistance above it 398 - 420 levels can be tested and 500 - 600 can be seen if it move above it.
These pattern suggesting initiate a buy call and even in dips as it moves like, can give fantastic returns. SL can be placed near 285- 300.
Disclaimer: not sebi registered the view is only for education purpose please ask advisor before investing.
has made fantastic bullish patterns which technical analyst like to learn and move through them
Positives
1. it has given breakout from price channel which is a bullish pattern.
2. Break out from Range - subros after giving BO from falling wedge remained in range and now it is able to sustain above the 340 odd levels.
3. 200 DMA - well placed above 200 day moving average. which is healthy and +ve sign as per technical analysis.
4. Double Bottom : it made double bottom near 275 indicates the bullishness in stock & even we can say rounding bottom type pattern from their.
5. leading indicator RSI above 50 another good sign.
6. another indicator MACD which shows direction is positive as well.
7. after drawing Fibo levels we can see 375 being a resistance above it 398 - 420 levels can be tested and 500 - 600 can be seen if it move above it.
These pattern suggesting initiate a buy call and even in dips as it moves like, can give fantastic returns. SL can be placed near 285- 300.
Disclaimer: not sebi registered the view is only for education purpose please ask advisor before investing.