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Ensuing recovery sentiment likely to stretch higher towards the upside objective of 31970 followed by the trend line resistance of 32090. Meanwhile, fall past below Bollinger middle band level of 31670 may push prices lower
Initial moves likely to test the upside obstacle of 37650 region. But need to make substantial trades above 37650 for further extension. Inability to challenge above 37650 would call a corrective move towards the downside objective of 36880.
Consecutive days of buying sentiment possibly to scale up towards the Bollinger upper band level of 4700 firstly then to 4720. However, dip below 4615 would be an early sign for a long liquidation move for intraday.
As long as Bollinger lower band level of 174.10 region holds downside, prices likely to drive higher to 181 followed by 183.70. On the flipside, fall past below 174.10 could grab prices lower.
Region of 451 looks crucial for further buying, which if remain untouched could expect a corrective downside move towards EMA level of 448 followed by 444.80.
By breaking the 150-Day SMA level of 859 could squeeze down prices towards the downside objective of 845 followed by 833. Botched attempt to crack below 859 may lift prices towards.
Intraday move largely to be upside with an immediate objective of 201 followed by 202.30. But a surprise move below the 50-Day EMA level of 198.10 may negate our buying outlook.
A major trend line hindrance is placed around 135.30 region. Inability to sustain above the same could squeeze down prices to 132.80 or even lower. A major recovery could see only above 135.30.
If prices hold the Bollinger middle band level of 129.70 could expect a recovery move towards the upper band level of 131.70 followed by 132.50. On the other hand, fall below 129.70 may grab prices lower.
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