ALLAHABAD BANK
- As per previous report published on ALLAHABAD BANK, stock has shown weakness after breaking its major support of 126 and has made a low around 112. (Click here to see past report published on ALLAHABAD BANK).
- Now daily chart indicates that Allahabad Bank is moving up from strong support around 112 its golden ratio 61.8% fibonacci retracement. So as long as stock holds 112 stock will be favored by bulls and some strength is expecting in ALL BANK. but once stock closes below 112 and stays below then further weakness is expecting.
- Suggested Reading - MAHINDRA CIE AUTOMOTIVE facing strong support at current levels, Stock to favor bears if closes below its support.
- Daily chart also indicates that stock has formed range bound zone at current level, this indicates once stock comes out from its range bound zone then sharp move is expecting. Chart no 2 also indicates that stock is facing 100 days moving average support at current levels, as long as stock holds above 100 DMA it will be favored by bulls.
- If stock move up from current levels then will find next strong resistance around 126, 129 and 133 its fibonacci retracement as shown in graph no3. Close Watch.
- Click here to see all the free trading reports (tips) published by us on ALLAHABAD BANK.
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