Technical View On BF Utilities
We have seen mind blowing rally in BF utilities in last few trading sessions. It spurts from 355 to 431.80 almost up by 21%. BF utilities is trading around 410. It made a low of 355.55 on 31 Jan 2017, and bounced back sharply.
Above 410 rally remain continue. Three consecutive closes + weekly close above 410 will see sharp upside rally till 480---500 and then to 530+ mark in days to come.
On Daily chart, BF utilities is trading above 21 and 55 days exponential moving average which is at 393 & 406 while MACD and RSI too showing positive diversion which indicate that upper side seems certain.
Traders don’t go for aggressive or positional selling at all because trend is positive and we will expect rally to remain continue till 530+ mark in coming months. For positional trade, stop loss seeing at 375. It will get positional weak only below 375 mark which is unlikely to breach in near terms.
