Suprajit Enginnering: Latest Update

 

Suprajit Engineering Limited has broken up from an approximate horizontal trend channel in the medium long term after investors have paid ever more. A positive signal has been triggered and further increase for the stock is indicated. It also gave positive signal from the rectangle formation at the break up through the resistance at 347. Further rise to 377 or more is signaled. The moving average indicator has also given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside. 

The stock has broken up through resistance at rupee 350. This predicts a further rise. In case of negative reactions, there will now be support at rupee 350. Positive volume balance, with high volume on days of rising prices and low volume on days of falling prices, strengthens the stock in the short term. The RSI curve shows a rising trend, which could be an early signal of the start of a rising trend for the price as well. The stock is overall assessed as technically positive for the medium long term.

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