MSP Steel & Power CMP 15.45
-- Fallen from high of 80 Sep 2010 to the low of 7.7 Mar 16.
From there it went to high of 14.95 with high volume on Apr 16, but could not breach monthly long term EMA( 15.7 ).
It again tried the same on Jul 16 but failed.
Yesterday it was at upper circuit & went to high of 16.85 with very high volume & breached the said resistance.
It has also surpassed last whole quarter's volume.
Expect retracement up to 11.7 - 12.1, where the daily medium & long term EMAs are.
Chance to BUY as next target is 22.9.
The market does speak ...... we only have to listen.
Disclaimer: Investors/traders should carry out their own study and research, and exercise caution before acting on these recommendations.
We will not be responsible for losses purportedly arising from the use of our recommendations
Disclaimer: Investors/traders should carry out their own study and research, and exercise caution before acting on these recommendations.
We will not be responsible for losses purportedly arising from the use of our recommendations
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