Free Stock Tips | Free Intraday Tips
4 large-cap stock ideas which could return up to 12% in 30 days
The Nifty started off Thursday on a positive note and remained volatile throughout the session. On the daily chart, it formed a Tweezers Bottom, which indicates that the weakness couldn’t pull the index below Wednesday’s low.
At the higher end, the Nifty faced resistance at its 50-day exponential moving average (EMA) and settled a bit lower. The trend is expected to remain sideward to negative as long as the price sustains below the 50-EMA, which is currently pegged at 10,551.
Bearish crossover in the momentum oscillator, relative strength index (14), is suggesting further near-term weakness in the index. No divergence in the indicator suggests a continuation of the current bearish momentum. The trend following indicator such as the moving average divergence convergence (MACD) is in a bearish crossover and has fallen below the signal line.
The stock has been trading within a downward sloping channel; however, the price seems to have now reached the lower band of the falling channel which may induce pullback over the short term.
In addition, the price has made a double bottom at Rs 672 which is expected to act as support for the falling price.
Positive divergence is visible in the momentum indicator RSI (14) on the daily chart. Traders can accumulate the stock in the range of Rs 690-700 for the target of Rs 771 with a stop loss below Rs 659.source-www.moneycontrol.com
The stock price has moved above the range-bound pattern on the daily chart which suggests a change in the trend. In addition, the price has moved above 20-days moving average (DMA).
The momentum indicator, RSI (14) on the weekly frame is in a bullish crossover with a current reading at 57.76; whereas, weekly MACD is in the positive crossover.
Traders can accumulate the stock in the range of Rs 1,190-1,200 for the target of Rs 1,350 and a stop loss placed below Rs 1,129.
Visit: http://www.tradeindiaresearch.com
CALL ON TOLL-FREE No- 9009010900
Our WhatsApp No-9300421111
No comments:
Post a Comment