Agarwal Industrial Corporation 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 681. Further rise to 857 or more is signaled. The price has also broken a resistance level and given a positive signal for the long-term trading range.
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There is no resistance in the
price chart and further rise is indicated. In
case of a negative reaction, the stock has
support at approximately 720 rupee. The
volume balance is positive and strengthens
the stock in the short term. RSI above 70
shows that the stock has strong positive
momentum in the short term. Investors have
steadily paid more to buy the stock, which
indicates increasing optimism and that the
price will continue to rise. 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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