CAIRN INDIA HAS BEEN IN A DOWNTREND. THE COUNTER RECOVERED SHARPLY AFTER KISSING 267 LEVELS DURING RECENT PAST. IT HAS FORMED A STRONG BASE AROUND 285 ZONE IT WITNESSED COUPLE OF BONCE BACKS FROM THE SAID LEVEL. HOWEVER ON UPPER SIDE IT IS STRUGGLING TO CROSS 300 MARK AND FINDING STIFF RESISTANCE NEAR 298 AREA. NOW THE COUNTER HAS FORMED A LOWER HIGH WHEREAS STOCHASTIC HAS FORMED A HIGHER HIGH. TECHNICALLY IT IS CALLED THE BULL SET UP. THE BULL SET UP SHOWS THE STRENGTH IN UPSIDE MOMENTUM. HOWEVER IT IS JUST A SET UP AND NOT A SIGNAL. THE SET UP IS VERY USEFUL IN AS MUCH AS IT HELPS TO INITIATE LOW RISK HIGH GAIN POSITIONAL TRADE BY SUGGESTING A TRADABLE LOW IN NEAR FUTURE. SINCE CAIRN WITNESSED COUPLE OF BOUNCE BACKS FROM 285 ZONE AND WE HAVE NOW BULL SET UP IN PLACE, 285 ZONE PROVIDES A GOOD ENTRY WITH STRICT SL OF 279.
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