- BIOCON facing golden ratio support at current levels @ 470, chart indicates once BIOCON closes and stays below then further weakness is expecting.
- Suggested Article - Golden trading rules in stock market.
- Chart also indicates stock currently finding trend line support and 200 DMA , as long as stock holds above bulls will be favored, but once it starts trading below then we can see some weakness.
- Even stock major trend indicator "MACD" is moving in -ve this indicates further price fall can be seen in coming days. Moreover stock has formed head and shoulder pattern formation, but failed to make bullish breakout and now facing neckline support @ 470. If closes below neckline then weakness expecting in coming days.
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- CADILA HEATHCARE moving up from 50 DMA, this will favor bulls as long as stock holds above.
- Stock also moving in a up channel pattern, this indicates as long as stock moving in up channel bulls will be favored.
- On upper side stock will find trend line resistance @ 1375. Further strength expecting once stock closes and holds above.
- BAJAJ AUTO moving up from 38.2% fibonacci retracement support, will favor bulls as long as holds above.
- Stock also moving up from 50 DMA , this too will favor bulls as long as stock trades above 50 DMA.
- On upper side stock will find resistance around 2460 (trend line). Once it closes and stays above 2460 then further strength is expecting. Close Watch.
- UNITED SPIRITS has formed rectangle formation in daily chart, this indicates sharp move expecting once it comes out. Upper side bullish breakout @ 2470. Close watch once it closes above.
- Stock also moving up from strong trend line support zone, this will favor bulls.
- Equity chart also indicates that stock is also facing 100 DMA resistance, stock to favor bulls once it starts trading above. Close Watch.
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