ING Vysya Bank (CMP: 501.95) - The above weekly chart shows bullish outlook. The stock has kissed cluster support & bounced back with couple of reversal candle which clearly signifies bullish reversal. And an addition 100 WEMA also acts as a support which is placed at 467. Now the stock is heading towards 551 - 581 levels which is 50% - 61.8% retracement level of recent falling leg. On the daily chart, RSI shows multiple leg of positive divergence which indicates bullish is remaining. Cluster support level placed at 467.
Recommendation: Traders can buy at CMP (501.95) to 495 levels for the target of 551 - 581 levels with a stop loss of 461 (close).
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