PVR Ltd is a technically sound company. It is on a bullish trend since June 2011. In spite markets ups and lows the stock had performed well with respect to market.
The reasons are as follows:
- Candle-Stick Pattern: we have seen a Morning Star on last Friday.
- Indicators & Divergence: MACD is about to give a Bullish Cross-over. Along with that we are seeing a Bullish divergence. And RSI is neutral.
- Moving Averages: All the moving averages are giving a clean way for this stock to sore high. We have seen a golden crossover in September 2011.
- SAR: we have seen a recent resistance turning as a support @188. The next resistance is at 203 and so on.
- Chart Pattern: From July 2012 we have been seeing this stock making a Bump and Run Continuation. According to me we are expected to see a 2nd Bump and Run Continuation.
· Conclusion: This stock was bullish for a year and it is showing a continuation. The stock is on a bullish run will continue not more that 3-6 months. The stock is at high and expected to make a higher high.