A positive trend is expected to witness in the counter as long as prices trade above horizontal support of 46500. Firm movement above 47970 could make a stronger trend in the prices. Whereas a slip below 46500 could negate buying expectations.
Prices may appear firm with mild corrective moves in the intraday. Slip below 47380 may induce weakness in the counter.
The bullish divergence in MACD oscillators suggest the further upside movement in the counter. However to attain momentum, prices have to break above the trend line resistance of 2650.
Prices seem to have held at the trend line support of 140 region. However, Bearish widening in MACD oscillators rule out firm recovery moves. A slip below 140 region could induce weakness.
Present bearish moves may find support at the trend line region of 406.90. Mild recovery may find in the counter if prices hold at the above mentioned support, else, corrective dips may be witnessed.
Falling below the support of 915.40 on the trend line could pressure prices further lower towards 904.50 or even lower. Whereas, if the support is held price may recover higher levels.
Prices need to break above the 160 region on the trend line for a sustained buying momentum. Else, the movement will be largely locked within the range of 154-160 in the coming session.
Intraday trades would be largely within the trading range of 128.20-132.30 in the upcoming session. Breaking either levels could set direction in the counter.
Present feebleness in prices may find support at 129.60 region. Breaking below the same may induce weakness in the counter.
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