CMP-41.1
Fibonacci level-.618(40.95)
50Days EMA-39.4(approx)
we can see the price is in consolidation mode since 23rd July. if invested don't panic, its just testing the patience level of investor. fundamentally it is awaiting for merger news confirmation for further upwards journey. on charts, double bottom formation is getting created which suggests a breakout...
CMP-47.65. The first resistance it can face is around 49.65 which it can break tomorrow considering the result day on 22nd July. upward side the next resistance is around 59 which in previous years it hadn't breached. downwards side it has built a strong support at 39.5 level. RSI level at CMP is around 70 which suggests strong momentum going forwards, the same is...
Looks good in the short term for 49.65. (roughly 14% p.a.)
The RSI in this case looks promising for the up move. However be cautious and keep a stop loss at 42.85.
Counter had tendency to bounce from 25-27 level which has already happened twice on Sept 13 & March 17. Today's volume was above average. RSI and CCI has given positive cross over. RSI is showing + divergence. Overall pattern is still not giving that kind of confidence to suggest for low risk takers.
Only delivery traders having high risk appetite should go for...
NETWORK18 looking good on chart as stock was given head and shoulder pattern breakout and now near neckline so accoding to rule stock have to take support here and move for strong bull run.
but RS says- Network 18 will fall after result if stock now able to cross my point level 58.90 and this fall can be more then 3% and 10% also so we carefull in this stock for long.
