Metalyst Forging CMP 65.6
-- Fallen from top of 520 24 Nov 2014 to the low of 34.05 Nov 15.
In last month it went to high of 93.1 with high volume
( almost 12 times volume that of previous month) & breached the Apr 16 top of 65.6 .
Monthly MACD has given BUY signal.
But as monthly short term EMA is at 60.55, it is coming down.
Expected to come down below 56, chance to BUY as it's next resistance at
1. 102 Dec 15 top
2. 122.8 monthly long term EMA
The market does speak ...... we only have to listen.
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Disclaimer: Investors/traders should carry out their own study and research, and exercise caution before acting on these recommendations.
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