MAXIND Bang On- 2 Best
Indicators You Cannot Miss!
Sometimes simple price pattern along with price indictors creates
wonder if one combines it together! See yourself how we identified such massive
move in MAXIND. Check out how we
selected this momentum stock named as MAXIND
which has rallied more than 15%.
We published MAXIND analysis
in "The Financial Waves Short Term Update" on 3rd January 2024 which our
subscribers receive pre-market every day. Check out below the detailed research
report that we published.
MAXIND Weekly chart Anticipated as on 3rd January 2024
MAXIND Hourly chart
Anticipated as on 3rd January 2024
Analysis as on 3rd
January 2024
MAXIND has been moving higher
recently and intact in strong uptrend. In the previous session it closed with a
massive gain of 9.97%.
On the weekly chart, in the
previous session prices formed a bullish candle. A weekly close above 195 will
confirm breakout of the rounding bottom pattern. We have shown ADX indicator
which gives an indication if the stock is trending or in a trading range. The
low readings of ADX indicates that the stock is in a range. The Adx of this
stock is 34.94 giving an indication of a trending market. The reading above 25
means strong directional strength.
As shown on the hourly chart, we
have applied parabolic SAR which used to determine the price direction as well
as draw attention to when the price direction is changing. A series of dots
placed below the price which is deemed to be a bullish signal. Closest support
is placed at 195.
In short, trend for this stock is positive. Use dips towards 202-204 as a buying opportunity for a move towards 225-227 levels as long as 195 holds on the downside.
MAXIND Daily chart Happened as on 8th January 2024
Happened: After
we published the report, the stock made a dip exactly towards 202 levels which
we mentioned earlier. Within a single day, the stock has given more than 15% return in such choppy market and
moved way beyond our target which was of 227 levels. Stock made high of 233.3. Price action supported the trend and as a
result we saw a sharp rally in MAXIND.
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