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IGB Possible Rebound and estimate 4% Profit Potentially

Written By Unknown on Wednesday, 12 September 2012 | 6:32:00 am

On Tuesday IGB rebounded on the Support at 2.47 and close at 2.52. There are chances for it to close higher at next 20d MA at 2.58 or at the resistance at 2.64







  Indicators
1 ) Trendline - Below the trendline (Bearish )
 2)  Support/Resistance - formed Lower Low  and Lower High ( Bearish )
3) MACD - Formed 3R1G ( Slightly Bullish)
4) RSI - Rebound from 30% ( Bullish)
 5) STO - Bullish Crossover and rebound from 20%( Bullish)


Conclusion:
Bullish
If break above 2.54

Next Resistance at 2.57 ( 20d MA) /2.64 / 2.69 /2 .77
Support at 2.47 / 2.31
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