I am positive on divi's lab as it broke trendline resistance which is restricting it from last May. Now it broke out trendline resistance and sustained above important moving average levels. Ofcourse there were some resistance in its path, but present conditions shows Nuetral to bullishness sentiment on this stock.
Import resistance level to look out for is...
According to the present date and conditions, I am looking Hindalco on a bearish side according to the technical side.
There were multiple factors making this stock bearish.
1. Stock pattern was in the downtrend.
2. Failing to cross and sustain above important resistance
3. Stock price below important moving average levels.
Only we can turn bullish on this stock...
Now let's talk about the pharma stock which was having highest market cap from the pharma side i.e.; Sunpharma.
Sun pharma forming LH-LL Pattern which represents bearishness from longer time period. The stock results which came in this quarter were not bad. So I am not expecting much good move in sunpharma unless or untill, it breaks 1025 level. Breaking this...
Coming to the Heavyweight in the nifty 50 index Reliance, reliance is looking bullish move in the short term. From the lower levels from Mar 20, stock has recovered and is now near significant resistance. Breaking this level, can move stock towards till 2672. If it breaks the Trendline resistance, then possibly a good move towards upside is possible. If reliance...
In my opinion, shree cement is showing upward momentum in the weekly time frame. But it is coming towards an important resistance. This level breakout can turn the stock upside. Failing to sustain above resistance levels will drag down this stock.
Important resistance Level : 25900 - 26100
Coming to support, From 2022 Jun, stock was respecting trendline levels...
