ITC formed ascending channel and currently resisting at the trend line.
itc alredy moved more then 23% even when the nifty is bearish.
so lets wait and see whether it is reversing or trend break again.
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B-Nifty PCR 1.30 over bought
B-Nifty RSI 70+ over bought condition
B-Nifty at major trend line resistance 36750-860 it may correct from here, if cross and sustain above it may test 37450 future levels* ( Must correct from here) for previous Gap Fill.
This lately diversified Motherson company is ready to give a bullish move in coming week up to a level of 85.45. Daily chart has already given breakout from its resistance area, further zooming-in in hourly timeframe, shows breakout from cup & handle pattern with a gap-up. With auto sector looking bullish, it only further confirms the strength of up-move.
about company -
Bhansali engineering polymers limited (bepl) has pioneered in manufacturing international quality acrylonitrile butadiene styrene (abs). the company is a value driven organization, aiming excellence in providing quality products and services, since its incorporation in 1984.BEPL is a company that takes pride in being the lowest cost producer of ABS...
Bearishness in the Index will continue till end of the year. Temporary bull run can be seen in August & October but the correction will continue till 12800-13200 levels before a bull run can set off.
Add to your watchlist and if there is any green candle then take trade
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JK Paper showing strength can give a breakout as well. It's been outperforming the index for long and demonstrating strength in these weak market conditions. Once it goes above its resistance and sustains there, it can towards its all-time highs.