Eid Parry: Bang on with two powerful indictors
Dec 18, 2024
Simple price pattern along with price indictors creates wonder if one combines it together! See yourself how we identified such a massive move in Eid Parry. Check out how we accurately predicted on the possible up move on Eid Parry which has rallied and achieved our target in short span of time.
We published about Eid Parry in "Vayu Short Term Update" on 4th December 2024 which our subscribers receive pre-market. Check out below the detailed research report that we published.
EIDPARRY Daily chart anticipated as on 4th December 2024
Anticipated as on 4th December 2024
EIDPARRY since 25th November was consolidating near in a narrow range of 845-880 levels. In the previous session, prices have given a breakout of the consolidation with a rise volume and managed to make a fresh high of 918 levels.
On the daily chart, since the past 2 days prices have managed to protect prior day’s low and finally gave positive breakout. Currently, prices are trading near the upper Bollinger bands®, follow up buying is must for positive momentum to continue. Also, RSI is trading at 65 levels giving prices the space to trend further.
In a nutshell, the current trend for EIDPARRY has shifted on the positive side. A break above 920 levels can lift the prices towards 960 or higher.
Key Resistance: 990
Key Support: 870
Strategy: Long positions can be created above 920 levels with targets of 960 followed by 990 levels with the stoploss of 870 levels.
EIDPARRY Hourly chart happened as on 18th December 2024
Happened: The stock has moved as we anticipated. Prices showed a rise of more than 8% after breaching 920 levels and not only achieved our both targets of 930 followed by 990(spot) but breached above it and made a fresh high of 997 in today’s session.
We successfully captured this entire up move with the help of simple price indicators like Bollinger Bands. One needs to combine it with price action for more accurate results!
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