The spike early in the month from 725 levels should have touched the targeted 850. However it reversed from 844 !
The jump came in after a bumper results.
Now it should reverse all the gains of early November.
Trend line Resistance at 395
200 DMA resistance at 418
One of the poorest performers in FnO since the march 22nd bottom. RSI had a good run.
Do you need justDial when you can log into Google.com.
It will be a good technical study to have AB endorsed brands vs Nifty 50 !!
Lower Highs and Lower Lows since the formation started in Jan 2018.
We had a huge move from Mar this year, wherein we had six months of bullish candles.
At Rs 440, its at an interesting juncture.
Is it bearish as it appears?
or is it some very bullish Chart pattern ?
I would go for a bearish stance.
In a downward sloping channel.
at 1550 , a very strong resistance.
Last 3 months trading in a very constricted band of 1350 - 1550.
Be careful if it trades below 1300.
One hand loses another hand gains. ;)
Off the rising Channel (pink )
Though inside the Wedge (rising or falling,...cant makeout)
For the last one month (since July 22) its consolidating.
RSI is at 50.
To mit seems like a Flag & Pennant and the rise would come in the Q4.