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.