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 Concept learnt from the book Secrets for profiting in bull and Bear Markets by Stan Weinsteins

Take weekly chart and apply 30 week Moving Average , Relative Strength, and check for the break out of stage 1. i.e breaking out of congestion or flat price move pattern and trying to move above 30SMA, and 30SMA is in moving in UP direction, and 30 SMA should not be in down direction 

1. Over all market trend should be bullish

2. Sector/ Group should be breaking into stage 2. with minimum previous price resistance of near past(within 6-12 month.

3 Volume should be double or triple suddenly from last few weeks/ Volume confirming the break out

4. Relative strength(RS) should be sloping up gradually/ above zero line in daily time frame. can consider -Premal Sir/ Vivek Sirs 55 RS and 123 RS. combined.

lets see some daily and weekly chart from the StockEdge scanner for the week.

PNB HOUSING WITH THE ADITYA PURI AND FUND RAISE NEWS-

 

 

 WIPRO WEEKLY LOOKS GOOD WITH RS-




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