Gold prices continued to move sideways on the back of multiple events and updates floating in the market, although if the metal could not keep up pace it will be on the track for its first weekly decline in three weeks for the metal. On the bright side for the metal yesterday, President Trump announced that he is willing to raise his offer of $1.8tln for a Covid...
"engagement in business transactions involving considerable risk but offering the chance of large gains, especially trading in commodities, stocks, etc., in the hope of profit from changes in the market price" as noted by dictionary.com
This has been in a consolidation zone since June 2018, I so added a 200 day MA in which it is...
Ajanta Pharma is near a strong resistance level.
There is a heavy supply zone in 1600-1650 levels and scrip has tested these levels multiple times in past occurrences.
Only on one occurrence, it crossed the zone with volume and attained above 2000 levels
Now It has entered into the same zone again & This time supported by heavy volumes as well.
The stock has...
Cadila started Human trails of COVID-19 Vaccine.
The daily chart shows classic Cup and Handle formation. Recent Close is above the Handle line.
Hence backed by the news and supported by technical indicators, upmove expected.
Price levels are congested in a narrow zone, hence various support-resistance lines can be observed.
Entry Price: CMP
Target 1: 404
Overall Bullish Movement expected,
2 month bearish Channel Break is visible with 9-day exponential moving average cut from below.
RSI and stochastic suggest a bullish movement.
Resistance at 10000 (if bear market, retracement till 8750, 8550 levels)
Due to Hydrocholorquine drug demand by other countries can expect positive movement for pharma stocks.
There will be a decline in the death rate in the vaccine case, then due to complications, after the increase in the mortality rate by a few percent, the mortality rate will fall completely. And it will end this way.
It will takes 30 to 45 days. After this, there will be signs of going up in the stock market.
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