OPTO CIRCUIT ( I ) LIMITED trading in an up-trending channel.

• Stock had seen a sudden , sharp major fall from the level of 278 to  level of  17.75, which eroded almost 92 % of its price.
• Stock started stabilising and forming a base at the levels of 17 -18, and from there started forming higher lows/ bottoms.
• Stock is now trading in a up-trending channel.
• In the begning of this year, stock has found forming bullish flag pattern followed by a bulliish continuation, cup and handle pattern.
• Stock acheived its Cup and handle target, which came near the level of 44-45.
• Immediate Resistance for stock is at the level of 44, 48.
• Immediate Support is at 36.5 , 34.5.
• However in today's session it made a  gap up- red shooting star pattern at its resistance level, signalling bears are too in strenght, though this is gap-up shooting star, this gap may serve as minor support, however if this gap is filled, stock may test its previous support levels at 36.5 and 34.5.
• RSI though giving mixed signals, as  negative divergence followed  by curving up towards reading of 70%.
• Stochastic  is about to make postive crossover in the middle, indicating strength in prices.
• ROC is still moving up , signalling strenght in momentum.
• OBV is also increasing, means volumes are still good.
• MACD Bars are though moving-down,  however Macd Line is still curving-up.