Tuesday, October 22, 2013

******** Trading Buy: Indo Agri. Share price: 0.86.( Rebounding along with commodities counters? )

Indo Agri has just crossed above the 0.85, 0.855 immediate resistance level which it has been consolidating below for more than 2 months already. Yesterday we have seen it test the 0.825 and cleared it convincingly only to see the momentum continue further today on the break of 0.855. As long as 0.85 is a support, a rise towards 0.90 and 0.95 seems likely, a break below 0.85 will open the way back to 0.825 level. Technical indicator RSI has been slowing rising in line with the breakout seen which can signal more momentum.
Stop loss at 0.835 for short term trades.

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