if we fall lower than the blue area (candle close below the blue area will confirm bearish price action!!!) then the price action turns into the bearish and Yes, just because we are below this marked area!
and a decent candle with high bearish volume inside of it. The bearish confirmation is a candle close below the blue area!!
Break below will confirm that ...
Avoid. Breakout possibility can be fraught with lot of risk. This is one more company against which MCA (Ministry of Company Affairs) has initiated enquiry since auditors deserted the company. (Also see my post on CGPower).
A base was formed and the stock completed the correction, gained strength from Golden Cross (50 DMA crossing 200 DMA on the upside). Now again some small consolidation is going on. Every correction will be bought out.
The stock is in strong bull market. Testing time for the bulls now. This has sameness with NIITTECH. 400 is a resistance zone. Should the bulls manage to cross and stay above this resistance, it will be a breakout taking the price to new highs. If the price comes down, it will be a good opportunity to buy.
1.Trading above All Importance Moving avg.
2.Two year Downward Channel Breakout
3. Stock Just Bounced From weekly 200 MAVG.
4.Company is virtually debt free.
5.Stock is providing a good dividend yield of 3.88%.
6. Company has a good return on equity (ROE) track record: 3 Years ROE 28.78%
7. Company has been maintaining a healthy dividend payout of 80.37%