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.

Emergency Buying in Aban Offshore

34 sec read


 

Stock : Aban Offshore
CMP : Rs 437
13 WEMA : Rs 457
34 WEMA : Rs 1006
Charts : 3 Year Weekly
 
Almost all the Oil Sector related stocks are making breakouts and trading above 200 Weekly Moving average (e.g Reliance, Essar Oil, MRPL, GAIL and even ONGC is nearing 200 WMA). but the only stock that is trade below below 200 week moving average and even  below our favorite 13,34,55 Week Exponential Moving Average line. Also Rate of Change indicator (ROC-10) is very close to 0(-9.6) indicates that breakout is very nearer.
 
So in near term aban will try to test atleast 34 Week EMA(Rs 1006) if trades above 13 Week EMA(Rs 457).
So this is an emegency declaration for Investors and short term traders to find oppurtunity in Aban offshore with
stop loss near Rs 400.
 
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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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0 Replies to “Emergency Buying in Aban Offshore”

  1. Aban trading at 485. And also 10 day momentum indicator turn positive suggesting more upmoves in future

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