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    Coca cola metal on the move

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    Synopsis

    This commodity has been sliding down from the peak of 325 on March 22 to the bottom of 188 in September. Over the past few months, the price was observed to form higher highs-higher lows. Recently price has given a symmetrical triangle breakout as a result of which the price is expected to start a bullish move with greater momentum.

    The momentum indicator RSI has crossed the 70 mark which suggests that momentum is strong and any upside move could be swift. The trend-following indicator MACD has formed a bullish crossover and is sustaining above its zero line. Price has also risen above its 200 EMA. These observations support our bullish view of price. Aluminium (MCX- Jan Expiry) 97296768One can initiate a buy position above 227 with a stop loss of 220 on a daily close
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    The Economic Times