- TATA STEEL holding at strong 20 days moving average support, close watch daily chart indicates as long as holds above stock looks bullish and can move up from current levels.
- Weekly chart indicates that stock in moving up from 23.6% fibonacci retracement around 512.50, as long as holds above stock can move up from current levels.
- Monthly chart of TATA STEEL indicates that stock must closes above 60% fibonacci retracement resistance in the monthly chart for long term trend to remain bullish.
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- ITC LTD has closed below its 200 days moving average, and will now be facing strong trend line support around 311, 307 and 285 as shown above. Can see some selling once stock trades below its support level.
- Weekly chart indicates that stock has broken its long support line, if closes below its support line in this week then indicating weakness for short term.
- Monthly chart indicates stock to face strong support around 311. Close wacth ITC facing strong support between 307-311 stock can bounce back.
- On Monday 23rd June 14 ITC fell 6% and closed 314.95 in NSE as investors are worried about increase in tax hike on cigarettes. According to media reports, Union health minister Harsh Vardhan has urged the FM to hike tax on cigarettes of all lengths by Rs 2 to Rs 3.5 per stick as well as remove tax exemption granted to bidi makers
- ASIAN PAINTS has formed double bottom formation (bullish formation) charts indicates once stock come breaks its formation with volumes then further up trend is expecting.
- Daily chart also indicates stock is facing strong trend line resistance around 572.50, once starts trading above 572.50 with volumes and stays above then bulls to get active in Asian paints.
- Visit our blog daily for tips on share market.
- On upper side stock to face short term resistance around 605 as per fibonacci retracement.Close Watch.
Next Stock Update On 23rd June 2014, Monday At 3:15 pm.
Tips On Share - ESSEL PROPACK facing strong resistance around 103 in daily chart. (Updated on 23rd June 2014, Monday).
- ESSEL PROPACK facing strong trend line resistance around 103, close watch once starts trading above 103 with volumes and sustains above then can see bulls to get active.
- Weekly chart indicates that stock is now trading in overbought zone and can see some correction, careful on all resistance, short term trend can see some correction.
- Monthly chart indicates that stock in now trading above major resistance around 97, if stock closes above 97 in the month of june and sustains above then can see further rally in coming months and long term trend stays bullish.
Next Stock Update On 23rd June 2014, Monday. At 1:00 pm
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