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Wednesday 24 August 2016

Justdial Daily Retracement Analysis EOD

JUSTDIAL LTD



Buy Justdial 465---470  Stoploss  446  Target 554---621 Duration-2Months



retracement analysis chart example


Remarks: Justdial on daily chart had recently made a top of 904 in may month from where it is continuously sliding to downward and forming lower low and lower high pattern and is now in this month it is trying to consolidate for sometime after making a low of 446 in august this month and now it is showing some sign of retracement on upside. so if we calculate 23% retracement from high of 904 it comes to 554 and 38% retracement comes to 621 where this stock should go on upside in coming 2 months.