Some bullishness can be expected if the stock manages to close above 11.50-112.
Next week the resistance at 51.50-52 will have to be broken
Next week the resistance at 51.50-52 will have to be broken
Watch out for crossing the band 155-158 for further upmove on the eve of Q1 result
In this run up next resistance is seen at 3786.
There is a resistance ahead at 880. If it is conclusively closed, a level of 1270 can be seen in this run up.
Descending 1/2 anglehas been crossed for upward movement, which will be confirmed once it crosses 1446 on closing basis.
Yesterday's indecisiveness in the form of Dozi and today's up move crossing 4/1 descending angle signifies return of bullishness in the scrip. We will have to wait closing price to conclude its crossing of 4/1 angle.
In this bearish move the stock may see a level of 600 (596)
If it does not move up in short term, it will be toeing descending 2/1 fan angle to visit 268 where there is support of ascending angle 8/1 to change course for any up move.
Stock is in bear grip and may go as low as 1300 where there is support.
Next support of 8/1 exists at 12 which should hold. However a triangle is being seen in daily chart which may imply a break out in next 10 days where the next resistance will be 17.85.
Waterbase chart is bearish. Hope 8/1 support at 160 holds. If it can close above 188.50 the stock will turn bullish.