Voltas can test 403 levels a Doji on weekly though sign of trend reversal could be short lived a perfect buy candidate at 390-400 Zone keep on radar.
Sell Below 462 SL 476 Traget 405
Buy Above 493 SL 459 Target 535
Tyre stocks gaining traction BALKRISIND has given a breakout on daily charts and if there is any retracement to 980 1020 levels the biying is supported by good volumes.
Accumulation zone: 970-1000 levels
Timeframe: 2-3 weeks
Bank Nifty on Daily charts broke a month long channel and yesterday formed a Doji the weakness may continue to persist till 30800 and we can see some reversal.
Overall the sentiments are bearish and BN is in downtrend.
Stock is in consolidation phase a breakout in any direction will give lead to the next move.
Stock Name: Muthoot Finance
Sell below 626 SL 637 Target 620 614
Buy Above 637 SL 624 Target 655
Trend Moderately Bullish
OI Analysis: Long Unwinding
Inverted Flag Pole pattern seen in Bank Nifty (BN)
Till Bank Nifty breaks 28500 and gives a closing above 28500 the trend continues to remain bearish
Inverted flag pattern is seen in Bank Nifty if the BN breaks the pole we may see new lows.
Price is below 22 EMA and Vortex also indicates bearishness in stock.
Nifty trading in a falling channel and is near very crucial zone.
11125 is a strong resistance and supply zone if it breaks this resistance and channel we may see a good move.
For Now Nifty is in no trading zone. It is a sell below 10980 and buy above 11125
Muthoot finance has moved from 370 levels to 650 and is now consolidating in a channel but accumulation seen in stock so we can expect some reversal if 640 is breached we may see MUTHOOTFIN hitting new highs.