Sbi although currently overbought on shorter time frames, but has a huge scope of moving in uptrend with normal corrections.
With Moody's downgrading the stock, I think we have seen a bottom for now. Also with nifty bank having a huge scope in moving upwards, we can see this stock leading with the likes of private banks HDFC BANK, ICICI AND KOTAK.
Recently broke...
Berger Paints is trading at a very important level and is trying to break resistance line running since All Time High.
Strictly Based on technicals-
1. Recent Breakout happened at around 550 levels which is acting as a supply zone for the stock for the past few moths.
2. Moving Average of 20,50&200 on daily is right now support for the stock from 510-535...
Strictly Based on Technicals-
1. Just trading below MA 50 and 20 on daily chart- Acting as a resistance
2. Recent Low support line in act and might be a support for HDFC bank to hold it above 1000.
3. Pre Covid high's and recent highs trend line acting as a resistance, holding it below 1150-1200
4. Volume Traded recently on HDFC Bank is very huge comparitive to...
Indian hotels broke the upper resistance on daily chart for the recent high trend line(red line) with very good volume.
Could have a move towards next resistance of 88.
Simply Based on technical-
Resistance- 50% at 165.80
Support recent low trend line at 142-145
Good Volume on the daily for last 2 days
key resistance level at 163-167
Rsi on daily is bullish just touching 60 and has a scope to move upwards
Moving average 50 on daily just crossed which is a bullish factor as well.
Warning - This is not a buy or sell...
NIFTY is trading at very important level and is trying to break resistance line running since All Time High.
Also there is support line running since recent low of 7500 levels.
So which line is going to break??
Rsi level on daily- still bullish
Volume on the daily for recent weeks is low- Bearish
Still Confused- No trade zone
Ajanta Pharma is observed to form a cup & handle formation.
Breaking the long term resistance of 1650 and also the top of the cup. Could have a move towards the ath as the volume traded at the breakout is good. Also RSI at 72 is a very bullish factor for the stock.
PIVOT LEVELS-
R1- 1720
R2- 1774
R3- 1835
S1-1627
S2-1590
S3-1562
