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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 !!!
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
@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.
286 Now
Tested 314(20 DMA Resistance line -317)from 220 levels.Whats now Profit Booking or Contiuation ofrally?Let See
Tested 440. Nearly 100% from the lows