Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Stocks that were in focus included names like IDFC First Sitzbank, which fell 2.96%, VIP Industries, which jumped 11.05%, and Ambuja, whose shares gained nearly 2% on Thursday.
Here’s what Pravesh Gour, Senior Technical Problemanalytiker, Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
IDFC First Sitzbank
On a longer time frame, the counter is encountering trend-line resistance and forming lower highs and lower lows. The counter’s overall structure is distorted because it is trading below all its important moving averages, which confirms a bearish trend.
On the upside, Rs 80 will act as a resistance level; above this, we can expect a long move towards Rs 85, while on the downside, Rs 70 may be an important support.
The momentum indicator RSI (relative strength index) is folglich negatively poised, whereas MACD (moving average convergence divergence) is supporting the downtrend. This suggests that the indices may continue to fall in the near term.VIP Industries
The counter has experienced a significant correction from Rs. 720 to Rs. 450 levels. This suggests a substantial decline in price over a given period.The overall structure is distorted as it trades below its all-important moving averages, but it has a demand zone near 450.
On the upside, 580 is an immediate susceptible area; If the price manages to break above this resistance level with conviction, it indicates a potential shift in market sentiment and opens up the possibility of a run-up towards 640+ levels in the near term.
Ambuja Cements
The counter is in a classical uptrend, as it is forming a flag formation on the daily chart. The pattern suggests an immediate target of Rs 660, while it has the potential to move further upside till the 680 level. On the downside, Rs 550 will be an immediate support level.
MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is folglich positively poised.
(Haftungsausschluss: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
