The stock fell sharply around 8 July and had been weak. But in the last session, the stock has crossed important levels of 1100 and 1140. It has entered a bull phase and will have up trend till its above 1104.
The stock jumbed aroud 14 August based on several positive announcements by the company. However, it failed to sustain the upmove and fell sharply on 3 Sep 2019. The stock is unable to enter positive RSI zone of >50. It is hovering around support of 1195. If this breaks, second support is at 1175 . If we see an upmove, there is strong resistance at 1242-1270 zone.
Nifty is in a neutral zone and is doing sideways movement. It went above RSI 50 few days ago but could not sustain. Support is at 10710 . Resistance is at 10950. Nifty is well below 50 EMA. Short term trend is down.
Gold ETF can be used to see the trend of Gold. The way jump from sub 140 level to significantly higher than 140 at 143 has taken place in early August, we have signs of the overall sentiment as strongly bullish. With RSI hovering around 60 in past 2 months, it is evident a strong uptrend is present. At the moment, we can see the strength declining and we can...
Dow Jones is comfortable above 26000 which was a key level. The was gap up has happened in the last session is the indication of strength. It is now above 50 EMA which is another sign of strength. With RSI above 52, we are in bull phase as of now. Next resistance expected around 26700.
Nifty had found stability around 11000 in the past week. Levels of 10950 and 10820 are important. RSI is rising but still far from 50 at 46. Sustaining above 11020 for a few days will give strength to move towards next key level 11250 which will act as resistance.
BKG (BERKELEY GROUP HOLDINGS) has recently bounced from 50 EMA twice and is now looking set to reach a target 1 of 3955. Target 2 is 4240. Stoploss levels are 3750 and 3670. Exit the half the stock if it falls below 3750. Exit full if it falls below 3670.
Expecting a fall to 120-130 zone. This zone will act as a barrier band. Expect reversal from 120-130 levels. If it breaks this band of 120-130, we can see 100 levels. But there is a less chance to break 120-130.
Weekly chart - 5 years. Stock unlikely to break the band of 170-185. Now the next level to watch is 230-240 when the stock rises. It is difficult to cross once reached. If crosses the barrier band of 230-240, it will head towards 300 quickly. This may take 6 months to 1 year or more.