Jindal Saw forms Bullish Candle on daily charts - IDBI Capital

Yesterday, JINDAL SAW has formed a Bullish Candle on the daily charts. However, the stock is in an uptrend forming higher high low in a rising channel. While, momentum averages have converged and indicated a positive crossover near the lower band of the rising channel.

On the oscillator's front; RSI & MACD have indicated a positive divergence on the daily charts.

Therefore, traders can buy the stock at cmp and on dips to 124 for a target of 145 with a strict stop loss placed below 119.80. Trading horizon would be 4-5 weeks.

Source : Equity Bulls

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