I was going through the stocks price actions and found Arvind interesting.
It doesn't hints any clear signs for the future movement of the price action.
But we can get few interesting results from basic analysis using support and resistance and trend lines
1) Long position--> Above 386.5-388 levels we can hope for the uptrend to continue.
2) If the stock...
In my previous post I had mentioned about going long on MRF.
But the stock gave a false breakout and revisited the support levels before going for the ride again.
I hope this time it continues to new highs.
If you consider the simple support and resistance zone trading then this post is for you.
Icici bank had good results and the stock had rallied since. But now Icici is in resistance zone.Purely on technical basis I see downside on this stock at least of 10-15 points i.e. for a target of 310-315 at least.
If the stock continues above this range without...
Glenmark is showing some weakness.
Let's discuss about the stock direction in coming weeks. there are two simple cases.
First - If you follow the straight horizontal lines support theory then stock is currently sitting on it support levels. ( Price on the day of writing)
In this case we could see long term up side movement. Targets not providing intentionally....
Infosys is in range bound movement. 932 is acting as resistance to this zone. It would be intresting to see if infy can continue its long journey from here.
It has created a three times bottom.
It has Good Volumes for a breakout.
If Infosys is not able to breakout on the upside then it could possible visit next support zone of 875 soon.