Get started

Histogram

Technical Analysis of Pennar Industries LtdAfter a prolonged period of two months characterized by a downward trend, Pennar Industries has recently exhibited bullish momentum with notable breakouts. An analysis of the daily chart reveals a significant trendline breakout, accompanied by increased trading volume, which has facilitated a close above the 50-day EMA. This development is a positive indicator for potential upward movement. Additionally, the RSI has also shown a breakout, moving above the pivotal 50 level, which traditionally signals a shift towards bullish territory. The MACD has provided further confirmation of this bullish sentiment, with a crossover being observed, and the MACD histogram now reflecting positive values. In terms of potential price levels, it is important to note that the stock may encounter resistance around the ₹183 mark, followed by another resistance level at ₹204 . Conversely, strong support is identified at the ₹152 level, which could serve as a safety net for investors in case of price retracement. Disclaimer: The insights provided in this analysis are for informational and educational purposes only and should not be interpreted as financial advice. It is recommended that individuals consult with a qualified financial advisor or conduct their own comprehensive research before making any investment decisions.
NSE:PENINDLong
by NiftyNotions
Banknifty Professional Trading Setup Here are some things to know about the MACD histogram and divergences: Divergence A divergence occurs when the price action and momentum are not acting together. For example, if the price is making lower highs, but the histogram is making higher lows, this is a divergence. Types of divergences There are two types of divergences: peak-trough and slant. Bullish divergence A bullish divergence occurs when the MACD forms two rising lows that correspond to two falling lows in the price. Bearish divergence A bearish divergence occurs when the MACD forms two falling highs that correspond to two rising highs in the price. Histogram bars The length of the histogram bars indicate the relationship between the two moving averages. When the moving averages are moving away from each other, the bars are longer, and when they are getting closer, the bars are shorter. MACD The MACD is a momentum indicator that shows the relationship between two moving averages of prices. It's calculated by taking the difference between a 26-day and 12-day exponential moving average.
NSE:BANKNIFTYEducation
by SkyTradingZone
1
HMVL: Sparks Hopes for a 20% Bullish Breakout!Hindustan Media Ventures Ltd has today (26.09.2024) exhibited a bearish trendline breakout, supported by significant trading volume of 2.1 million shares and a price movement reflecting an increase of 4.85% . This indicates increased interest from traders and investors, hinting at potential upward momentum. A robust support zone has been identified on the chart by circle, where the stock has shown strong movement in both directions multiple times. This level can be deemed critical for future price stability and may offer protection against further declines. On the daily timeframe, the %K of the Stochastic RSI has crossed the 60 threshold, suggesting that upward momentum is gaining traction. Conversely, on the weekly timeframe, the %K remains in the oversold region, indicating that there may be room for recovery and potential bullish reversal in the longer term. In the daily timeframe, a MACD crossover has already occurred, signaling potential bullish behaviour ahead. The weekly MACD shows signs of strengthening towards a future crossover, which could further support a positive price trend. The histogram is exhibiting signs of positivity, suggesting that momentum may build in the upcoming trading sessions. Positive trends noted in the histogram can be an encouraging sign for prospective buyers. The stock’s ability to close above the identified hidden trendline could pave the way for testing the next resistance level at 126 . This resistance level will be crucial to monitor as it could determine the stock's short- to medium-term price trajectory. Disclaimer: The insights presented in this technical analysis report are intended solely for informational and educational purposes. This report is not a substitute for professional financial advice. Investors are encouraged to conduct their own thorough research and consider their financial objectives before making investment decisions.
NSE:HMVLLong
by NiftyNotions