NIIT TECHNOLOGIES
- As per previous post published on NIIT TECH stock failed to closed above 477, but gave sharp intraday move and stock fell down after that. (Click here to see previous report published on NIIT TECHNOLOGIES).
- Now as per graph no 1, stock is coming down sharply from its trend line resistance, since then bears are active in this stock.
- As per graph no 2 currently stock is coming down from 23.6% fibonacci retracement resistance zone, this indicates as long as stock trades below 387 it will be favored by bears but once stock closes above 387 and stays above then stock can test its next resistance around 405 its 38.2% fibonacci retracement.
- Intraday close watch once stock starts trading above 387 , if stays above in day trading then can see some intraday action by bulls.
- Suggested Reading - TATA MOTORS DVR closed above its range bound zone, will favor bulls as long as stays above.
- As per graph no 3 stock is testing its strong trend line support , this indicates if stock fails to move up and closes below its trend line support around 356 then further weakness is expecting in NIIT TECH.
- Intraday close watch once stock starts trading below 356, If stays below then intraday weakness is expecting in NIIT TECH.
- Suggeated Reading - REC LTD facing strong support at current levels, will favor bulls as long as holds above.
- As per graph no 4 stock is also facing strong 200 days moving average, so as long as stock holds below it will favor bears , but once stock closes and stays above 200 DMA then bulls will get active and stock will favor bulls.
- Click here to see all the free trading reports (tips) published by us on NIIT TECH.
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