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.

Breakout Stock : SELMCL

35 sec read


 

SELMCL Montly Charts

SELMCL is oscillating between the 5 EMA(High-Low) Montly bands since April 2009
and gave a buy signal(as shown in green arrow on the montly chart) on last Dec 31,2009 with huge spike in volume and also trading
above the 5 EMA(High) Montly for the ver first time . Earlier attepmt to close above
5 EMA(high) had made during Jan 2008 season.
 
There interesting fact is that currently this stock is trading above 13 EMA>34EMA>55 EMA
as per daily time frame i.e Rs74.24>Rs72.89>Rs72.26 and also above 200 day Moving average 71.05. All the above factors symbols the bull pattern formation in this stocks
and suits for 3-4 month investing purpose for 25-30% gains from this stock
 
And as per weekly time frame supports are available at Rs 73.34(13 EMA-Weekly) and 76.93(34 EMA-Weekly).
 
Investors can try to invest in dips in this counter with a tight stop loss of Rs73
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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