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“The index has closed near its resistance zone of 24500 and a close above that can trigger another round of short covering that can drive it towards 24700 in the short term. On the lower side, Nifty will find immediate support around 24360/24280 levels,” said Aditya Agarwal, Head of Derivatives & Technical Analysis at Sanctum Wealth.
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The stock has given a downward consolidation breakout on the daily chart, suggesting increased optimism around the stock. Additionally, the stock has moved above the critical moving average on the hourly chart. The RSI is in a bullish crossover and rising. On the higher side, it may move towards 750, while support on the lower side is placed at 678.
Rupak De, Senior Technical Analyst, LKP Securities
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The stock has given a sideward consolidation breakout on the daily chart, suggesting increased optimism around the stock. Additionally, the stock has been sustaining above critical moving average on the daily chart. The RSI is in a bullish crossover and rising. On the higher side, it may move towards 3150, while support on the lower side is placed at 2769.
Rupak De, Senior Technical Analyst, LKP Securities
ETMarkets.com
On a weekly time, frame Syngene is experiencing a pattern called flag & pole at higher levels followed by retracement, indicating continuation of the uptrend. Volume during the selloff is declining, whereas during the rise the decent volume participation is signaling that the buyers are keen to buy on dip.
Drumil Vithlani, Technical Research Analyst at Bonanza
ETMarkets.com
Igarshi on daily timeframe has given a breakout of Rounding pattern and with this security closed at record high indicating continuation of the uptrend, additionally significant increase in volume in the last trading sessions signals buying interest moreover.
Drumil Vithlani, Technical Research Analyst at Bonanza
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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This article was originally published by Indiatimes.com. Read the original article here.