Today's Opening - 152
Today's High - 207
Today's Low - 152
Today's Closing - 202
Highest closing since 27th Jan, 2015.
Since 26th July, the stock had been closing lower than the 5-day Exponential Moving Average almost on a daily basis. However, for the past two days, the daily closing has been above the 5-day EMA.
The 2-day Relative Strength Index has remained below 50% since 21st Sep, except for rising over the past two days.
The 12, 26-day Moving Average Convergence Divergence has remained negative since 10th Aug. The MACD was negative even yesterday, though it turned positive today.
Since 3rd Aug, the Negative Directional Index has been stronger than the Positive Directional Index almost everyday.
The 20-day Commodity Channel Index has remained below zero since 22nd Sep.
The rise over the past two days has clearly defied all technical analyses. In case the "Great Indian PSU Bank Festival" continues for a day or more, then 231 is the major resistance that the stock will be moving towards. Use this opportunity to book partial profits but do not exit completely since the PSU bank story might just turnout to be the biggest theme for Samvat 2074, that most of the market experts failed to anticipate. Anyone who's entered the stock yesterday should definitely book some profits since the next support for the stock is at 175 and one wouldn't want to be caught holding the stock at a multi-year high.
Today's High - 207
Today's Low - 152
Today's Closing - 202
Highest closing since 27th Jan, 2015.
Since 26th July, the stock had been closing lower than the 5-day Exponential Moving Average almost on a daily basis. However, for the past two days, the daily closing has been above the 5-day EMA.
The 2-day Relative Strength Index has remained below 50% since 21st Sep, except for rising over the past two days.
The 12, 26-day Moving Average Convergence Divergence has remained negative since 10th Aug. The MACD was negative even yesterday, though it turned positive today.
Since 3rd Aug, the Negative Directional Index has been stronger than the Positive Directional Index almost everyday.
The 20-day Commodity Channel Index has remained below zero since 22nd Sep.
The rise over the past two days has clearly defied all technical analyses. In case the "Great Indian PSU Bank Festival" continues for a day or more, then 231 is the major resistance that the stock will be moving towards. Use this opportunity to book partial profits but do not exit completely since the PSU bank story might just turnout to be the biggest theme for Samvat 2074, that most of the market experts failed to anticipate. Anyone who's entered the stock yesterday should definitely book some profits since the next support for the stock is at 175 and one wouldn't want to be caught holding the stock at a multi-year high.
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