Stock Recommendation: JUSTDIAL

First of all It’s a pure technical analysis based Stock Recommendation

JUSTDIAL was most favorite stock for traders during 2013-2014 period it has tripled in prices from 600 to 1800 but after making all time highs it has started its downtrend and price drastically fell to 320 levels on 30/12/2016

Recently the stock started moving up and from chart we can find out that reversal in bearish trend is evident

It has broken out of its downtrend channel last week as high lighted belowjust-dial-channel-break-out

 

It has found its support at its 52 weeks lows and completed double bottom formation in the last one year which indicates reversal of downtrend

just-dial-double-bottom

It has made weak bullish divergences in rsi as below

just-dial-divergence

The stock has immediate resistance at 900 levels which is 350 rs from current levels , so one of the bullish stocks for next few monthsjust dial res.png

Disclaimer: it’s posted for learning purpose, Since investing all about risk management so better discuss with your financial advisor

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