TECHNICAL OUTLOOK SUMMARY:
Broad based recovery is taking place inspite of middle east tensions, as majority of the companies are reported inline or better than expected results.
This stock is catching our attention with strong accumulation from institutional investors with inverse head & shoulder pattern. It has briefly broken out of a resistance zone at 750-756 and got sold off from upside with heavy volume.
Consolidation is expected for another 3-4 days, which is the period for accumulation before big move, support lies at 701-698. on upside it has potential to move towards 810 & 890 levels latter.
KEY LEVELS
Watch Out Zone: 750-₹756
Resistance 1: ₹810-₹812
Resistance 2: ₹890-1895
Support 1: ₹701-698
Support 2: ₹ 674-670
Broad based recovery is taking place inspite of middle east tensions, as majority of the companies are reported inline or better than expected results.
This stock is catching our attention with strong accumulation from institutional investors with inverse head & shoulder pattern. It has briefly broken out of a resistance zone at 750-756 and got sold off from upside with heavy volume.
Consolidation is expected for another 3-4 days, which is the period for accumulation before big move, support lies at 701-698. on upside it has potential to move towards 810 & 890 levels latter.
KEY LEVELS
Watch Out Zone: 750-₹756
Resistance 1: ₹810-₹812
Resistance 2: ₹890-1895
Support 1: ₹701-698
Support 2: ₹ 674-670
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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.
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.