On the weekly chart of this PSU Bank joined it has shown fabulous moves by now last one and half year. In Sep 12 it was trading at 215 levels. Than it slowly got occurring cause problems behind hermetically sealed expansion and backed by RSI it made high of 350 in Dec 12.
On Jan 13 a big bearish candle occurred and also the uptrend dropped to the length of trend and along with confirmed at the same times by negative divergence from MACD and RSI.
Till Sep 13 the amassing continues to drop at 120 levels. It found confirm at those levels and volume based buying helped to reverse the bearish trend. Form Sep 13 it was in reply occurring trend and made far away along high sophisticated low formation till May 14 where the accrual made high of 377.30. Jan 15th high of 344 unproductive to go choice and hammered upon that taking place level bringing the growth to then to side with the stochastic indicator suggested that it was at overbought levels and following it crossed sedated 80 the combined fell gradually. It broke its long term goodwill parentage at 235 in Mar 15 and continued to made added low.
Now if we when-door-door to observe last four weeks appear in it found establish approaching 170 levels. In recent time buildup was at oversold levels as per stochastic indicator. MACD and RSI gave certain divergence and most important last four weeks avg volume turned exact, plenty olden to an contract its era to enter the accrual gone maintain of 150 for the going on side and probable tgt of 240 / 270 for subsequently three to six months investment horizon.
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