Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Aban Offshore possibly a value investing pick now!!!

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Weekly charts of Aban shows a slide from 4500 levels to 231 levels. But Last week Aban Shows a High Volume activity last week on friday. Currently Weekly RSI 2(3.85) is Heavily near Oversold levels. Technically aban is heavily oversold and a
valuable pick now with strict stop loss near 200 region

Also Weekly charts shows a very huge gap difference between 5 EMA and 13 EMA if converge towards 5 EMA then ABAN would target 348(approx) in short term. If converges towards 13 EMA then ABAN would possibly target 543(approx).

Daily RSI2- 0.023 Heavily Heavily Oversold
5 EMA – 270
13 EMA  – 321

Maintain Strict Stoploss.

Happy Investing !!!
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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5 Replies to “Aban Offshore possibly a value investing pick now!!!”

  1. I also feel that aban offshore is good for shart term but if it breaks 220 marks then may it touch to 150 also. I feel in aban off shore like ” falling knife” if we try to catch it,it should hurt our pocket. what you think Money Drives Life

  2. @KuwarWhen technicals are suggesting extremely oversold levels from weekly and daily charts. Possibly the falling knife would be a blunt one.So what harm in catching it with a tight stop loss.

  3. Tested 314(20 DMA Resistance line -317)from 220 levels.Whats now Profit Booking or Contiuation ofrally?Let See

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