eClerx Services Limited is a knowledge and business process outsourcing company with operations in the United States, the United Kingdom, Europe and Asia Pacific
1. Its long term trend is up as price is making a higher top higher bottom formation and mid and long term EMA’s are moving upwards.
AB leg is 1106 to 1784. BC leg ends at approximately 61.8% retracement of AB leg. This fibonacci retracement level is most often a strong support area. The projection of point D can be made by taking 127.2% extension of leg BC and it comes out to 1950 which is 36% up from the cmp of 1427.
8. The last sign of an upward move is the Hidden Bullish Divergence. Price is making a higher high and the RSI(14) is making a lower low. This is an indication that the price will move higher from the current level.
P.S. : This analysis is invalid below 1110.