ABAN OFFSHORE
- As per previous report published on ABAN OFFSHORE, stock has shown intraday move after breaking its resistance @ 804 and made a high @ 821, but failed to move more and stock fell down after that. (Click here to see previous report published on ABAN OFFSHORE).
- Current chart indicates stock is still holding its 50% fibonacci retracement support as long as stock holds above 687 bulls will be favored , but once stock close and stays below 687 then bears will get active and we can see some further weakness in Aban Offshore.
- Suggested Reading - ADANI ENTERPRISES facing strong trend line resistance at current levels, will favor bulls once stock closes above.
- As per graph no2, stock 50 days moving average was paying an important role, last 4 times stock bounced back from 50 DMA, but this time it is trading below 50 DMA , stock must trades above its 50 DMA to favor bulls, once holds above 50 DMA then can see some activity in Aban Offshore. Close Watch.
- Suggested Article - What is Nifty and Nifty futures.
- As per graph no3, stock is stuck in small range bound zone, this indicates that we can see some sharp action once stock comes out from its range, upper side will find resistance around 763 and down side will find support around 687. Close watch if stock closes and stays above 763 then can see some bulls action for few trading days.
- Intraday trading tips - If Aban hold above 763 during market hours then intraday bulls action is expecting.
- Click here to see all the free trading reports (tips) published by us on ABAN OFFSHORE.
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