National Peroxide Ltd. has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The stock has broken a double bottom formation. A decisive break of the resistance at 1549 will signal a rise to 1687 or more.
The stock has support at rupee 1480 and resistance at rupee 1860. Positive volume balance shows that volume is higher on days with rising prices than days with falling prices.
This indicates increasing optimism among investors. 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.
PS : IHS stands for Inverted Head and Shoulder
Make use of our Sure Shot Bank Nifty Option Tips and trade like a pro trader.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
