Maruti suzuki is at an important support levels. Holding 7000MARUTI SUZUKI IND: After a splendor rally from lows to 7830 levels the stock pulled back a little after taking hit at a resistance point. In the last session it created a narrow range candle & closed positive for the day. The RSI took support near the 40 levels and MACD is well above zero into bullish zone. Holding 7000 on closing basis will be positive for the stock. Giving away the levels may pull the price down to 6600 levels.
Bharatjhunjhunwala
Bhel : Holding Bullish Range ShiftBHEL: In my previous updated i mentioned the range shift fact in the stock. The stock is reattempting breakout from the clouds. In today’s session it created a bullish candle. The macd is turning up while rsi is comfortably above 50 levels. The chikou is free As long as 51 levels are protected the stock is expected to move up in the near term.
Bata India is at an important level.BATA INDIA: The stock is in a dominant trend up though we notice there is a momentum loss which is leading a correction. Now the stock is just at the SPAN support, a good price action (bullish candle) is required here to assert the trend else it may lead to a deeper correction till 1530 levels! We can notice a TK cross. The RSI took resistance at the bear extreme levels and crippled into neutral zone. MACD is also neutral as of now.