Bharat Forge may be bought today

NSE symbol: BHARATFORG

1. Prices around 565 were earlier resistance and thus once broken are now serving as support of which an attempt was made today to break at the open.

2. A large White Marubozu candle today which fell below the above-discussed support but during the entire day the rising prices have taken price above the same.

3. The 20 period simple moving average (SMA) is above the 200 SMA.

4. The 20 SMA is rising.

5. The 200 SMA is rising.

Stop: One tick below today’s low i.e. 0.05 below 562 thus at 561.95

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