LINDEINDIA attempted a BO in a weak market breadth today with higher than average volumes.
Also, 21/50 EMA cross is happening today as well which is a positive point of support shifting upwards and one can think of using 21EMA as a support now once it crosses or if you are a pull back buyer on support one can wait to take a position at 21 EMA instead.
Relative strength has been improving week over week and the numbers are as follows :
23rd Feb - 30
1st Mar - 31
7th Mar - 36
Today - 59
Huge jump in RS can be attributed to the fact that most of Smallcaps and microcaps have been hit bad and few stocks which are holding up and moving upwards gain scores like that.
Also, 21/50 EMA cross is happening today as well which is a positive point of support shifting upwards and one can think of using 21EMA as a support now once it crosses or if you are a pull back buyer on support one can wait to take a position at 21 EMA instead.
Relative strength has been improving week over week and the numbers are as follows :
23rd Feb - 30
1st Mar - 31
7th Mar - 36
Today - 59
Huge jump in RS can be attributed to the fact that most of Smallcaps and microcaps have been hit bad and few stocks which are holding up and moving upwards gain scores like that.