Indo Agri (technical)

Indo Agri: Both the longer (3-years) and shorter term (1-year) chart shows that the counter is still within a negative trend. From the past week, the counter bounced off its 52-week low, supported by a declining ADX which indicates a loss in strength on the downside. It could be positive in the near term if the counter is able to close above its 20 MA of $1.01. The counter has a a support level of $0.97, and the next resistance at the 1.075 level.