We have a buy reco for Indo Count Industries Limited which is currently trading at Rs 72.55, says Dinesh Rohira of 5nance.com
Indo Count Industries traded in a positive trajectory on its weekly price chart post its correction from the higher band of Rs 134-99 levels towards 52-week low levels. It took strong support at 60 odd levels to reverse the trend.
The scrip made a critical breakout from its 20-days EMA at 68 levels supported by strong volume trend on a weekly basis, indicating a buying trajectory.
On the weekly price chart, the script registered a long bullish candlestick pattern indicating a sustainable rally post breaching essential levels on the upside.
Further, the weekly RSI placed at 55 signaled a buying regime at a current level along with positive cues from MACD suggesting an upward shift.
The scrip is currently holding a long resistance at Rs 98 and support level at Rs 60. We have a buy reco for Indo Count Industries Limited which is currently trading at Rs 72.55.
Indo Count Industries traded in a positive trajectory on its weekly price chart post its correction from the higher band of Rs 134-99 levels towards 52-week low levels. It took strong support at 60 odd levels to reverse the trend.
The scrip made a critical breakout from its 20-days EMA at 68 levels supported by strong volume trend on a weekly basis, indicating a buying trajectory.
On the weekly price chart, the script registered a long bullish candlestick pattern indicating a sustainable rally post breaching essential levels on the upside.
Further, the weekly RSI placed at 55 signaled a buying regime at a current level along with positive cues from MACD suggesting an upward shift.
The scrip is currently holding a long resistance at Rs 98 and support level at Rs 60. We have a buy reco for Indo Count Industries Limited which is currently trading at Rs 72.55.
 Sahre price target Rs 82 Dinesh Rohira of 5nance.com){kind=link}
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