MACD is the difference between the 26-day and 12-day exponential moving averages. A 9-day exponential moving average, called the ‘signal’ line, is plotted on top of the MACD to reflect ‘buy’ or ‘sell’ opportunities. This suggests the positive momentum may continue further towards the 9,340 level. However, investors need to be cautious on this rise. On the down side crucial supports are placed at 9,260 and 9,210 levels,” Stewart & Mackertich Wealth Management said in a note.A close look at the chart of PVR shows whenever the MACD line has crossed above the signal line, the stock has always shown an upward momentum.A similar crossover was recorded on Tuesday when the Nifty50 hit its new all-time high.

Source: Economic Times April 26, 2017 04:55 UTC