NSE: JPASSOCIAT Technical Analysis

JPASSOCIAT Technical Analysis

Short Term Stock views Posted on 11 December 2012
Contra Call: Short sell jp associate at 104-104.1, stop loss 105.9 closing basis, Targets 102-99.5
Reason: Dual Trendline Resistance
Comments: jp associate has shown a very sharp up move in a very short span of time. The stock has a very strong resistance on both daily and weekly stock charts at 105.6. As you can see the stock is shown inside two channels and both channels upper trendline intersects at a point which is Resistance for the stock. Also, RSI is coming down from the overbought region. Stock can show some retracement up to the mentioned levels in few days.
JPASSOCIAT Technical Analysis
Dual channel resistance

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