Deep Diamond India Ltd. has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The stock has built a double bottom formation and given signal of further rise to 10.31. On reactions back, there is now support at 9.16. The stock is approaching support at 8.00 rupee, which may give a positive reaction.
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However, a
break downwards through 8.00 rupee will
be a negative signal. Positive volume
balance strengthens the stock in the short
term. RSI diverges positively against the
price, which indicates a possibility for a
reaction up. The stock is overall assessed
as technically positive for the medium long
term.
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