Wealth Bazaar Financial Managers has recommended a buy rating on Orchid Chemicals, a trading bet with a stoploss of 302
CMP –317
Attached below is the Daily Chart of Orchid Chemicals Ltd
Price Price had crossed the downward sloping resistance trendline at 311 levels with a strong
bullish candlestick.
bullish candlestick.
Volume The above breakout has occurred with high volumes.
Bollinger Band Price has begun tagging the upper Bollinger Band thus indicating high strength in the uptrend.
RSI RSI has breached the 65 odd-levels after having moved within 45 to 65 for the past one
quarter.
quarter.
Strategy Wealth Bazaar recommends a Buy rating on Orchid Chemical at CMP with a stop below\
302 for targets of 345, 365
302 for targets of 345, 365
Regards
Mayank Gupta
mayankportfoliomanager@yahoo.com
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