- Stock coming down from strong trend line resistance zone @ 923, Chart indicates as long as stock trades below bears will be favored.
- Monthy chart also indicates stock facing 50% fibonacci retracement resistance around 923, once closes above then we can see some further price rise.
- If MCX falls further from current levels then MCX will find strong support around 853, 833 and 810.
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MULTI COMMODITY EXCHANGE
TATA MOTORS - DVR
- Stock coming down from golden ratio fibonacci retracement resistance zone @ 360, as long as stock trades below bears will be favored, once stock closes and holds above 360 then further price rise can be seen.
- As per monthly chart stock has formed bullish candle formation this will favor bulls.
- If stock falls further from current levels then TATA Motors Dvr will find support around 344, 334, 326 & 318, levels as per fibonacci retracement as shown in chart no3.
LARSEN AND TOUBRO
- Stock moving in range bound zone , this indicates sharp move expecting once stock comes out from its formation.
- Stock also facing fibonacci fan 3rd line support zone, chart indicates weakness expecting once stock starts trading below its line support.
- As per technical chart no3, stock will favor bull once it starts trading above trend line resistance zone.
- Stock currently coming down from strong trend line resistance zone, chart indicates as long as BPCL holds below 785 bears will be favored, and we can see some further price rise if BPCL closes and holds above 785.
- Stock major trend indicator "MACD" and "Stochastic Oscillator" is moving in -ve zone this will favor bears and stock also made a bearish breakout as it has closed below 50 DMA, this indicates stock to favor bears.
- As per montly chart, stock is coming down from 261.8% fibonacci retracement this will favor bears as shown in chart no3.
- Titan currently coming down from golden ratio resistance zone @ 400, this indicates once stock closes and holds above 400 then further up trend can be seen.
- Daily chart also indicates stock made a gap up open this indicates bullish indication, as long as stock holds above 375 bulls will be favored as per gap technical studies.
- According to monthly chart, stock is forming bullish candle formation, this indicates further price rise can be seen once stock closes and holds above 400. Close Watch.
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