- Stock moving in down channel formation, will favor bulls once stock comes out from its down pattern.
- As per technical part no2, stock is moving up from strong trend line support zone this will favor bulls as long as holds above 114.
- If Stock moved up from current levels then ESCORTS will find next strong resistance around 128, 137, 144 and 155 levels as per fibonacci retracement.
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DR REDDYS LABS
- Stock moving up from strong trend line support zone @ 3060, this indicates bulls will be favored as long as holds above.
- Stock also moving up from 100 DMA this will favor bulls for further price rise.
- If stock moves up from current levels then will find next resistance around 3200, 3290, 3360 and 3435, levels as per fibonacci retracement.
BANK OF INDIA
- Stock moving up from neckline support @ 271.50, this indicates as long as stock holds above bulls will be favored.
- Stock also moving up from 38.2% fibonacci retracement support zone @ 271.50 this will favor bulls as shown in technical chart no2.
- Stock also moving up from 100 DMA, this indicates bulls active in Bank Of India.
- Stock has formed head and shoulder formation formation and stock moving up from neckline support @ 112, bulls will be favored as long as stock holds above 112.
- Stock also trading up from 100 DMA, this will favor bulls.
- If stock moves up further then will find resistance around 121.50, 124 and 127, levels as per fibonacci retracement.
- Stock facing strong trend line support @ 1354, will favor bears once stock closes and holds below 1354.
- As per weekly chart stock is moving in range bound zone, this indicates once ACC comes out from its range then sharp movement is expecting, upper side will find resistance around 1570 and down side support around 1354.
- Even stock major indicator "MACD" and "Stochastic Oscillator" is moving in -ve and also stock trading below 200 DMA this indicates further price fall can be seen in coming days.
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