Intraday Tips- Technical Report and Outlook for Thursday 11th Aug
TATA MOTORS
In today's trading session, the stock moved upward to show some correction and made a high of 849.40. It had successfully taken support from its lower level and moved upward from it. It now has resistance level at 853 and support level at 838.One may go for the long position above its resistance level.
Resistance2- 869.45, Resistance1- 856.1, Pivot Point 836.05,
Support1- 822.7, Support2- 802.65
MARUTI SUZUKI INDIA
In today's trading session, the stock crosses its resistance level and made a high of 1283.50.The stock was up by more than 5.5 %. The stock has resistance level at 1287 and support level at 1252. In short term it is expected to show some correction.
Resistance2- 1328.6, Resistance1- 1306, Pivot Point 1260.8,
Support1- 1238.2, Support2- 1193
HINDALCO
The stock was consolidating during the trading hour and closed on a positive note. The trend presently in the stock is weak. The stock is now facing resistance at 157 which is the 50 day moving average of the stock and has support at 150. Break of resistance may take the stock further up. One may go for buying the stock once it breaks its resistance level.
Resistance2- 160.83, Resistance1- 158.37, Pivot Point 154.83,
Support1- 152.37, Support2- 148.83
ONGC
The stock has managed to trade below the support level of 278 and it is now trading at 279.50. It is now taking resistance at 291 and support at 277. It is looking weak on charts; one can go for short position in it at 277 for the target of 260.
Resistance2- 293.83, Resistance1- 286.42, Pivot Point 281.98,
Support1- 274.57, Support2- 270.13
ITC
The stock is facing either side movement currently. The stock may face resistance from the level of 206 and it has support level at 194. In short term is expected to consolidate and remain range bound. Crossing of resistance level may take the stock at higher levels.
Resistance2- 205.3, Resistance1- 200.9, Pivot Point 198.45,
Support1- 194.05, Support2- 191.6
TATA MOTORS
In today's trading session, the stock moved upward to show some correction and made a high of 849.40. It had successfully taken support from its lower level and moved upward from it. It now has resistance level at 853 and support level at 838.One may go for the long position above its resistance level.
Resistance2- 869.45, Resistance1- 856.1, Pivot Point 836.05,
Support1- 822.7, Support2- 802.65
MARUTI SUZUKI INDIA
In today's trading session, the stock crosses its resistance level and made a high of 1283.50.The stock was up by more than 5.5 %. The stock has resistance level at 1287 and support level at 1252. In short term it is expected to show some correction.
Resistance2- 1328.6, Resistance1- 1306, Pivot Point 1260.8,
Support1- 1238.2, Support2- 1193
HINDALCO
The stock was consolidating during the trading hour and closed on a positive note. The trend presently in the stock is weak. The stock is now facing resistance at 157 which is the 50 day moving average of the stock and has support at 150. Break of resistance may take the stock further up. One may go for buying the stock once it breaks its resistance level.
Resistance2- 160.83, Resistance1- 158.37, Pivot Point 154.83,
Support1- 152.37, Support2- 148.83
ONGC
The stock has managed to trade below the support level of 278 and it is now trading at 279.50. It is now taking resistance at 291 and support at 277. It is looking weak on charts; one can go for short position in it at 277 for the target of 260.
Resistance2- 293.83, Resistance1- 286.42, Pivot Point 281.98,
Support1- 274.57, Support2- 270.13
ITC
The stock is facing either side movement currently. The stock may face resistance from the level of 206 and it has support level at 194. In short term is expected to consolidate and remain range bound. Crossing of resistance level may take the stock at higher levels.
Resistance2- 205.3, Resistance1- 200.9, Pivot Point 198.45,
Support1- 194.05, Support2- 191.6
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