(1) Bandhan Bank
The stock has formed a Bearish Engulfing Candlestick on Daily Charts in the last trading session. Bearish Engulfing pattern signifies a strong selling pressure from higher levels and the strong presence of bears during the session.
The immediate support the stock is placed at 495.30 and any break below this level may again trigger a fresh supply in the counter. Stop Loss for the trade may be placed at 500/-
(2) Eicher Motors:
The stock has broken down from a trading range which has its base at around 20,000/-. The volumes supporting the fall from the support zone of 20,000-21,000 have been huge which further indicates that strong hands are exiting this counter.
It is also trading below the major support levels of 20 and 50 SMA on Daily charts which shows strong presence of bears in this counter.
The intraday Pivot support for the stock stands at 19,809/- and any break below this level may trigger fresh supply in the stock. Stop Loss for the trade may be placed at 19,905.
(3) Dish TV:
The stock is in a bounce back phase and has surged with good volumes in the last trading session. A zoomed in look at hourly charts shows candles that are formed above 9 and 15 EMA and indicate a strong trend in motion. Momentum Oscillator RSI is also rising and reaching towards its overbought zone indicating prevailing bullish bias.
The stock may be bought above 42/- and stop loss for the trade may be placed at 41.40/-.
*All levels mentioned are of cash segment.
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