Articles tagged with: Tata Steel
Tata Steel is close to its Trend line Support where it has taken support 3 times in previous fall.525 is an important level to watch >ig that get violated on closing basis we are heading towards 506 and 479 Levels.On Higher side will face resistance at 540 and 552.
ONGC on Last friday closed below its 200 DMA which stands at 1114.A stock which closes below its 200 DMA comes under Bear’s attack on every pull back.
We need to watch for how many days ONGC closes below its 200 DMA,as if it recovers in coming 2-3 sessions than we can consider this as a wip saw and ignore it.
As Nifty looks ripe for a bounce if global sentiments are suppostive.
Levels to be watched in ONGC
Resistance:1114 1136 and 1175
Support:1053 1014 and 992
These type of trades are easy to trade as breakout has happen wait for stock come to support level of 123-25 range or let it cross today’s high of 132 and it will brezze for a tgt of 136 140 and 148 in this week
The candlestick on the daily charts indicates an‘Engulfing Bull’ characterized by a large white real body engulfing a preceding small real body, appearsduring a downtrend which is an important bottom reversal signal and a implies a comeback by bull. It signifies that the downtrend is now losing momentum and the bulls started to take the lead. Resistance for the scrip is at 887-908-978 and support is at 778-757-721.
Important Note:As per DOW THEORY, breaching of a trendline would be invalid when its crosses back above trend line within 3 trading days.
Stock has shown a strong support at 100 EMA in dec crash and this crash also showing a very good and strong support,It took support at 965 and showed a bounced with rising volume showing bulls are having good upper hand on this counter,Buy on dips till 100 EMA holds
Levels to be watched buy above 1051 for a tgt of 1076 1120 support at 962
Strides Acrolab is showing good moves and is showing bullish channel from a low of 154 to a high of 312.Stock is trading above its 5 EMA and takinf support at 20 SMA which is being shown in charts as above,Stock is a buy on dip canditate.
It faces channel resistance at 288-92 range.Once that get crossed it will brezze to 301 301 and 316.Once 316 is cleared we may see 336 levels in 2 weeks time,Support comes at 268 levels.
Aban formed a double bottom on daily charts.Good support is a the levels of Rs 1122-42 levels and double bottom formation is visible on charts.Trade with a positive bias in this stock.
Levels which needs to be watched out on the upside are 1251 1297 and 1380