S&P 500 INDEX moving up from strong support and finding resistance around 2080.

S&P 500 INDEX

• Index has showed sharp up move after touching its 200 days moving average and fibonacci fan 2nd line support (As shown above). This will favor bulls as long as index holds above.
• On upper side S&P 500 index will find next resistance around 2080 its previous top, onoce index closes and holds above 2080 then fresh bull rally can be seen in S&P 500. Close Watch.

SUN PHARMACEUTICAL facing 100 days moving average support @ 798.

SUN PHARMACEUTICAL

• Stock facing golden ratio support at current levels, will favor bears once it starts trading below.
• Stock also facing 100 DMA support at current levels, technical chart indicates once stock closes and holds below 798 then further price fall can be seen in coming days.
• Even stock major trend indicator "MACD" is moving in -ve zone and below level zero, this will favor bears. Close Watch.

MCX LEAD has witnessed sharp selling after breaking its head and shoulder formation.

MCX LEAD

• Commodity had formed head and shoulder formation in daily chart.
• Lead has shown sharp weakness after coming out from its formation @ 120.50 (as shown above).
• Lead also coming down from 200 DMA this will favor bears as long as commodity holds below.
• Also see  - MCX Copper free analysis.

GIPCL moving up from 200 DMA.

GUJRAT INDUSTRIES POWER CO. LTD.

• Stock moving up from 200 days moving average and also from strong trend line support zone, bulls will be favored as long as stock holds above its support zone @ 81.
• On upper side GIPCL finding strong trend line resistance around 94,  from last 4 times stock failed to close above its previous top.
• Once stock closes and holds above 94 then further bullish rally can be seen in GIPCL.

MASTEK Failed to close above its major resistance @ 390.

MASTEK

• Stock has showed sharp bull rally from 250 - 410 and that too with increasing volumes that too supported bulls.
• But Mastek has failed to close above its major resistance @ 390 its 161.8% fibonacci retracement.
• Stock can see some further correction as per technical analysis as long as holds below 390. Close Watch.

DIVIS LABS moving up from 100 DMA and trend line support.

DIVIS LABS

• Stock moving up from strong trend line support zone @ 1617 (recent low). As long as holds above bulls will be favored.
• Stock also trading above 100 DMA , this too will favor bulls as long as Divis trading above 100 DMA.
• If stock price moves up further then Divis will find next strong resistance around 1740, 1758 and 1780 (its nearest tops).

MARUTI SUZUKI Stuck in a range bound zone

MARUTI SUZUKI

• Maruti Suzuki stuck in a range bound zone On upper side stock made a high @ 3460 and bottom support @ 3250, as long as stock stuck in range trend will not be clear.
• On down side stock will also find support @ 50 DMA as shown in above chart, this will favor bulls.

GUJRAT GAS COMPANY Rose 10%

• Stock moving up from 50 days moving average, this will favor bulls,
• Stock also showed increase in volumes with increase in price.
• As stock has closed above its 100% fibonacci retracement, will now find next resistance around 700 as shown in above chart.