BUY JUST DIAL TARGET 550 SL BELOW 490. BUMP AND RUN REVERSAL PATTERN.

A bullish bump and run reversal is a  typical shape of a sliding pan and  then the  price forms a round and gives a breakout above the   sliding resistance trend line with volumes spurting in the direction of the trend.

Just Dial too has formed a similar pattern on hourly charts although the stock has not given a breakout above the trend line yet but has given indications of a breakout .

  1. Stock price has taken support on its trend line.
  2. Moving Average of 200 EMA and SMA also providing a price support.
  3. Horizontal trend line support.
  4. Indicators on different time horizons giving a buy signal
  5. Leading indicators like RSI is in oversold zone.
  6. And open interest build   up in the direction of the trend for the last two days is a confirming tool for the same.

Here is the snapshot:

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