Equitas holdings has been forming a triangle pattern where 56.50 level has been acting as a strong resistance since late April.
Price tested the upper resistance zone of 56.50 around 3 times in late April, once in mid May and multiple times in the last week of June. Thus, making it a strong resistance. Further, in the lower side, price has been obtaining support...
Fundamental positive cues:
1. Indian Govt. news on regulating tariff and facilities of LNG to boost demand
2. Decreased impact on financial performance in spite of lockdown
3. June and July seeing an increase in storage and pipeline utilization in its major sites (Dahej Terminal) compared to April / May
4. Permission granted to open LNG stations across the...
After the block deal of share transfer between the holding entities, Siemens India rallied and consolidated near the upper trend line of the triangle pattern.
On 03 July 2020, long green candle was formed in day chart above the upper trend line of the triangle pattern. Volume saw a huge spike indicating a big money move.
If the price sustains above the upper...
Price action pattern: Break-out and sustained from a downward trending line resistance line (From 43 to 35) at 35 with almost flat support line at 32.5. Further after break-out, tested the support turned earlier resistance line and stayed above with considerable volume.
Fundamentals: Results of Q4 2020 and FY 2019-20 is expected on 08 June 2020 (Monday). With...
