Shemaroo corrected long way from 169.3 on 23/09 to 116.60 on 20/12. Since then, it is creating a healthy consolidation.
Positive Indicators:
1. Trend Breakout: Breakout from a negative trend
2. Positive RSI divergence
3. RSI Crossover with price breaking out of negative trend
After clearing out of 131, next strong resistances are around 135-140. Then on, it has a huge upside potential with targets of 153, 165, 175 and then it will be in open chart area.
SL: 115
Positive Indicators:
1. Trend Breakout: Breakout from a negative trend
2. Positive RSI divergence
3. RSI Crossover with price breaking out of negative trend
After clearing out of 131, next strong resistances are around 135-140. Then on, it has a huge upside potential with targets of 153, 165, 175 and then it will be in open chart area.
SL: 115