PrateekVerma

PrateekVerma

This stock has been in an uptrend since the past month, thus, it will be showing some correction. The stock is forming an ascending wedge which is a sign of weakness in the price action. The price has not been able to push past the resistance level i.e. 608-610 level. The price is going to move towards the 565-570 level. Thus, I would insist no fresh position...

PrateekVerma Updated 

The price is very close to the resistance level, bumping near the 162-165 level. The price is supposed to break out higher and can hit the target of 170-172. Since, the price has been showing a long buildup and was in a range, it can achieve 2-3 targets by picking up momentum. First Target (170-172) Second Target (180-183) Look out for the nearest support level...

PrateekVerma Updated 

The price has rallied up significantly in the past 3 sessions. A rounding bottom can be seen at the top of the trend further showing that a profit of Rs.30-40 can be booked if the market continues in an upward trend. RESISTANCE LEVEL (2700-2710) SUPPORT LEVEL (2660-2670) If the price goes in a downtrend, wait for the pullback at the support level. RSI level is...

PrateekVerma Updated 

HINDUNILVR showcases the onset of the downtrend with the current gap down opening. The stock was in a bullish uptrend followed by a consolidated between a span of two weeks in the 2090-2130 range. The current level (2085-2090) can be termed as both resistance and support because the price is trying to break above it. If price closes above this level as of today,...

PrateekVerma Updated 

The stock price continues to move in a downtrend. Nearest Support Level (170-175) Nearest Resistance Level (180-185) If the stock price does not break above the nearest resistance level then it will continue in a downtrend, breaking the nearest support level. If the downtrend persists, stock can move further to the 160-165 level. Hold the stocks if already...

PrateekVerma Updated 

The market will continue in a downtrend, thus short position should be acquired in this scenario. Support Level 1 (2410-2420) Support Level 2 (2360-2370) Final Support (2280-2300) If the first target is met, i.e. 2360, then place a trailing stop loss and aim for the next target (2290). Thanks P