Decisive trades above 46540 could bid intraday buying to upside levels. Failed to sustain above the same may be a sign of further weakness
Prices still trading in consolidation range with lack of directive moves. So we expect the prices to float in the region of 68600-71900. A firm move which sustained above or below the mentioned region may set off directional move.
Prices still have room for further price gain. Although a sudden fall through 4555 region would be an early sign of downside corrective move.
Prices need to challenge below the Bollinger lower band level of 196 region to persist consecutive days of weakness. Else hold the same for a rebound .
Prices clearly gained the support of 707 region in early session. if this region remain untouched could lift prices back to previous session levels. But slip below 707 may dent our buying sentiments.
Major long liquidation move may continue only below the hindrance of 1355 could grab prices lower. However, if prices sustained above the same may push prices higher.
By breaking the downside obstacle of 221 may be a sign of major long liquidation move. Inability to challenge below the same could push prices back to higher levels.
As long as prices float above the downside hurdle of 170.80 region could boost prices higher. But a vertical fall which settled below the same may squeeze down prices lower.
Broad buying may continue if prices stay above the downside hurdle of 174 region. But slip below the same may squeeze down prices lower in the later session.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer