Intraday Stocks for Today
On a monetary policy day, the benchmark indices declined below the key supports. It closed below the prior bar and formed another lower low candle.
For the second day, it closed below the 5EMA. However, it surpassed the previous day's high during the day, but it was not able to sustain at higher levels. It also closed below the rising trendline support decisively. In fact, the Nifty has retraced more than 61.8 per cent of the previous week's rally. The positive aspect, despite ending in red, the index has not added the distribution days in the current countertrend of the last four days. After a long time, the index closed below the moving average ribbon along with the MACD line below the zero line on an hourly chart. Now, the index has The RSI closed just on the 40 support. The daily RSI declined below 60 and entered the neutral zone. It also closed below the upward channel, which is negative. The KST and the TSI indicators have given fresh sell signals. The 20DMA support is just 0.55% away at 18459. The Nifty is now 3.91% above the 50DMA, The 18442 level, which is a consolidation breakout, and the 20DMA will act as crucial supports for now. As the weekly expiry is scheduled, the volatility will increase further.
The stock ended its counter-trend consolidation. It has broken down the bearish flag pattern. It closed below the moving average ribbon. The stock has been in a downtrend for the past eight months. It closed below the 20DMA and 6.68% below the 50DMA. The Elder impulse system has formed a strong bearish bar. It also closed below the Anchored VWAP support. MACD is below the zero line and about to move below the signal line. The RSI is declining from the 55 zone. The -DMI is closed above the +DMI, and ADX broke out of an influx point. In short, the stock registered a bearish breakdown. A move below Rs 446 is negative, and it can test Rs 407. Maintain a stop loss at Rs 455.
The stock has broken down the rectangle top with a higher volume. The stock is sustaining below the moving average ribbon in the recent tight range. It is trading 2.94% below the 20DMA. It also sustained below the Anchored VWAP. The RSI entered the bearish zone and closed below 40. The MACD has been below the zero line for the last few days. In short, the stock has broken down the parallel supports and registered a bearish breakdown. A move below Rs 1605 is negative, and it can test Rs 1550. Maintain a stop loss at Rs 1634.
Share Market Today
|Indices Name||Price||Price Change (% change)|
|S&P ASX 200||7087.30||52 (0.74%)|
|CAC 40||7303.45||20.87 (0.29%)|
|Dow Jones||35755.45||6.3 (0.02%)|
|FTSE 100||7464.63||37.22 (0.5%)|
|Hang Seng||17024.62||49.85 (0.29%)|
|US Tech 100||14158.20||4.76 (0.03%)|
|Nikkei 225||33486.89||165.67 (0.5%)|
|S&P 500||4546.31||1.61 (0.04%)|
|Gift Nifty||20329.50||-4 (-0.02%)|
|Shanghai Composite||3029.67||7.98 (0.26%)|
|Taiwan Weighted||17433.85||63.29 (0.36%)|
|US 30||35754.90||3.7 (0.01%)|
About the Author
DisclaimerInvestment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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