After rising for two consecutive
sessions, domestic indices traded lower on Wednesday. Sensex decreased by 176 points, or 0.29%, to
61,119, while the Nifty decreased by 63 points, or 0.35%, to 18,169.
Heavyweights in the index like Reliance Industries, Infosys, HDFC, and TCS led
the weakness.
BUY RBL BANK FUT 2 LOTS ABOVE 185 TARGET
188.50/192 SL 170
Since it has been rising in a bullish channel formation for the past seven
months, the counter is in a classic uptrend. The counter's structure is very
profitable because it trades above its crucial moving averages and has higher
highs and lower lows. It has formed a bullish three white soldiers candlestick
pattern on the longer time frame, indicating significantly more upside
potential for this counter. The force pointer RSI is exchanging over the 60
imprint with a positive predisposition, while MACD is seeing a centerline
hybrid. Positively, Rs. 190 will act as an immediate support; Above this, we
can anticipate a significant move up to Rs 234 levels, while the major support
during any correction is Rs 167 on the downside.
After making a new all-time high and beginning a new uptrend toward Rs 340 levels, the stock has retested its previous breakout level of Rs 302.Positively, Rs. 340 is a vulnerable area; Above this level, we can anticipate a rise to 354 levels in the near future. Negatively, Rs. 303 is significant support during any correction. The momentum indicator RSI is also poised in a positive direction, while the MACD (moving average convergence divergence) is supporting the current strength.
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