- KOTAK MAHINDRA BANK is facing fibonacci retracement support @ 988, close watch chart indicates weakness expecting once stock closes and stays below 988.
- Chart also indicates stock is currently facing 100 days moving average support at current levels, we can see weakness once stock starts trading below its 100 DMA.
- Even monthly chart indicates stock has formed bearish candle formation, if stock breaks its support @ 988 in daily chart then weakness expecting.
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KOTAK MAHINDRA BANK
- SIEMENS LTD facing strong trend line support at current levels, close watch once closes and stays below 789 then weakness expecting.
- Chart also indicates stock will test its 200 DMA support, if closes below then stock to favor bears. As long as stock holds above stock can bounce back.
- Monthly chart also indicates stock had formed bearish candle formation last month , if stock breaks its support @ 789 in daily chart then we can see some weakness in Siemens ltd. Close Watch.
- CENTURY TEXTILES facing strong trend line support at current levels , chart indicates once stock closes and stays below 517 then further weakness is expecting.
- Stock also trading below 100 DMA, as long as stock holds below bears will be favored.
- If stock closes below 517 and holds below then will find next strong support around 435 its 161.8% fibonacci retracement. Close Watch.
- ADAN PORT facing strong trend line support at current levels, will favor bulls as long as holds above, but if stock closes and stays below 252 then weakness expecting. Close watch.
- Stock also facing 100 DMA support at current levels, once closes below then stock will favor bears.
- If stock falls from current levels and stays below 252 then stock will find next support around 245 and 227 (trendline and fibonacci retracement levels).
- Stock market tips.
Sensex, Nifty opens flat after nse trading holiday. TCS and Hero Moto trading positive and Bajaj Auto falls. About 432 shares have advanced, 530 shares declined, and 47 shares are unchanged.
DLF moved up around 8%, showing a recovery after losing nearly 30 percent in previous session due to Sebi order.
Global factors are likely to weigh on Indian markets. US stocks fell overnight on continued worries about weak global demand. Markets are worried about weak economic data coming from China and Europe. The US economy is dependent on these two for its exports.
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