Saturday, June 29, 2013

Short term trading in JP associates? (Technical analysis)

Looks like JP associates is all set for a   nice short term trading bounce back. If you watch the charts there is nice kicker , followed by a hammer and followed by a Gap up as shown in the below figure.


The RSI has pounced back nicely from oversold territories, have a look at the image below.

And all these signals are happening at  all time low level.
We see a short term target of 62 and strict stop loss of 52. Enjoy this trade.

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