HDIL Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock moving up from strong support zone, On upper side stock will find resistance around 101.50 and 105. (Updated On 20th August 2014, Wednesday).

HDIL

• As per previous post published on HDIL stock gave shap weakness after breaking it support @ 86 and stock made a intraday low of 80. (Click here to see previous report published on HDIL).
• Now daily chart indicates stock is moving up from strong golden ratio 61.8% fibonacci retracement and trend line support, this indicates as long as stock holds above it will be favored by bulls, but if stock closes and stays below 80 then sharp weakness is expecting. As shown in graph no1.
• As per graph no2 technical indicates that stock is moving in a range bound zone as HDIL stuck between 105 and 85, once stock comes out from its range then sharp move is expecting. Chart also indicates that stock is finding minor trend line resistance around 101.50, bulls may get active once closes and stays above 101.50 and HDIL will find next resistance around 105.
• Intraday close watch once stock starts trading above 101.50, if holds above in day trading then some bullish action is expecting in HDIL.
• Suggested Reading - INDUSIND BANK moving in a range bound zone, sharp move expecting once stock comes out from its range.
• As per graph no3 stock is moving up from 100 days moving average , as long as holds above it will favor bulls but once closes below 100 DMA it will be favor by bears and stock will show first sign of weakness. Even stock major trend indicator "MACD" is moving in +ve zone and above level zero, this indicates stock can move up from current levels. Close Watch.
• Click here to see all the free trading reports (tips) published by us on HDIL.
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