Corrective structure is at its terminal end

Though Aerospace Industrial Development 2634 is still in its corrective downtrend channel, we believe that the correction has hit its terminal end and its getting ready for a bullish rebound after strong bullish pressure was seen sustaining above the 40.00 psychological level. We believe further upside is likely to continue as long-term MACD’s histogram has turned positive and its signal/MACD line has crossed and is sloping upwards towards the zero line. Stochastic has confirmed the oversold crossover. Volume is also in a healthy position. Ichimoku shows a clear bullish signal. Short-term target is at 58.00 while long-term target is at 72.00. Support to accumulate on pullback is at 43.95. 2634