- There was bullish MACD crossover by its trigger line from below zero.
- My customized Slow Stochastic had reached its oversold position.
- Bollinger bands had narrowed down considerably and the buy price was at the lower end of the band.
- Upper band of Bollinger was forming around 330, indicating that the scrip should test this upper band as the first resistance.
Despite all the above reasons there was a degree of discomfort in short term due to negative developments of illegal mining in Orissa and also environmental issues. So this is what I had to say after the close of trading on 9th Sep.