AU Small Finance Bank Ltd. - STOCK ANALYSIS
https://www.tradingview.com/x/iocSVGwY/
AU Small Finance Bank Ltd. Here's a breakdown of the analysis based on the chart:
Key Observations:
Price Movement:
The stock dropped by 14.07% (approximately 98.10 INR) in the recent decline phase, followed by a strong recovery of 13.91% (around 97.75 INR).
The current price of the stock is 733.90 INR.
Recovery After Correction:
After a significant drop, the stock has shown a strong bounce back. This reflects renewed buying interest and a recovery in the stock’s price.
Support and Resistance:
The support level appears to be around the 630-650 INR range, where the price found a bottom during the correction.
The resistance level is likely around 740-760 INR, which may act as a barrier for further upward movement unless there’s a strong breakout.
Volume and CVD:
The CVD (Cumulative Volume Delta) shows positive values indicating more buying than selling pressure in recent sessions. This is a positive sign for the stock, showing strength in the recovery.
Outlook:
The stock is approaching resistance. A breakout above the 740-760 INR level with good volume could trigger more upward movement.
On the downside, failure to break resistance may lead the stock to consolidate or revisit lower support levels.
Conclusion:
The stock is currently in a recovery phase after a significant correction and is approaching key resistance.
A breakout above 740-760 INR could lead to a continued rally, while the support at 630-650 INR is a crucial level to watch for any pullbacks.
AU Small Finance Bank Ltd. Here's a breakdown of the analysis based on the chart:
Key Observations:
Price Movement:
The stock dropped by 14.07% (approximately 98.10 INR) in the recent decline phase, followed by a strong recovery of 13.91% (around 97.75 INR).
The current price of the stock is 733.90 INR.
Recovery After Correction:
After a significant drop, the stock has shown a strong bounce back. This reflects renewed buying interest and a recovery in the stock’s price.
Support and Resistance:
The support level appears to be around the 630-650 INR range, where the price found a bottom during the correction.
The resistance level is likely around 740-760 INR, which may act as a barrier for further upward movement unless there’s a strong breakout.
Volume and CVD:
The CVD (Cumulative Volume Delta) shows positive values indicating more buying than selling pressure in recent sessions. This is a positive sign for the stock, showing strength in the recovery.
Outlook:
The stock is approaching resistance. A breakout above the 740-760 INR level with good volume could trigger more upward movement.
On the downside, failure to break resistance may lead the stock to consolidate or revisit lower support levels.
Conclusion:
The stock is currently in a recovery phase after a significant correction and is approaching key resistance.
A breakout above 740-760 INR could lead to a continued rally, while the support at 630-650 INR is a crucial level to watch for any pullbacks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.