the stock opened then probed in upward direction to see if any buyers will show interest. Once it was confirmed there was no buyers, the stock bolted towards bottom resulting in a trend day
Benchmark Nifty50 rallies sharp for 2 successive weeks scaling back to levels of 11,9000 and more. It has been a “turn-on-a-dime” kind of bounce back from the index, well supported by sectors like IT and now Banks. The underlying trend is definitely UP as the index continues to show resilience to correct, but it’s the level above that offer some serious...
Price is consolidating in range and getting ready for break out.
BERGER PAINTS : LOW VOLUME PULL BACK, WILL BE BULLISH TILL IT HOLDS 585
MCDOWELL : TOO MUCH OF CONSOLIDATION MAY LEAD TO SOMEWERE
ADANI PORTS : STOCK MAY COME FOR GAP FILLING BEFORE RESUMING THE JOURNEY AGAIN
Expecting the stock to go up in the near term based on the PA.
Weekly chart of BANKNIFTY. This chart also suggests that the strong support base is shifted towards up side in the BANKNIFTY.This support region comes to about 21050 kind of levels. Currently if we see, we have come quite above our marked supports in the chart. The way we have identified the open of the weekly levels as important support, even in BANKNIFTY the...