Today Ranbaxy was the top gainer. The question is ..will the bullishness continue?
Ranbaxy bounced off the lower trend line. So technically speaking the chances are that it will try to move up to the upper trend line. It would mean that it may bounce back to about 380 400. The daily MACD and the Histogram does suggest some bullishness coming back to take it up to these levels. However the timeline could b at leat two months. Any views?
Weekly Chart Enclosed
Regards
Ranbaxy bounced off the lower trend line. So technically speaking the chances are that it will try to move up to the upper trend line. It would mean that it may bounce back to about 380 400. The daily MACD and the Histogram does suggest some bullishness coming back to take it up to these levels. However the timeline could b at leat two months. Any views?
Weekly Chart Enclosed
Regards
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