Market went into a tizzy and crashed 496.55 points from day's high of 25885 to day's low of 25388. It closed slightly higher from day's low at 25454. So now 25388 is the major support. If 25388 is broken the market can fall further. The next supports in line are at 25256, 25120, 24841 or even 24574 as of now. On the positive side if market holds on to the support of 25388 and tension in the Middle East eases the resistances on upper side will be at 25650, 25671, 25775, 25874, 26023, 26182 and finally 26332.
So global uncertainity and macro geoplotical reasons and developments are the reasons to watch out currently. Let us see how the situation plays out. We will see a further sharp up or down move based on what happens between Iran and US during the weekend.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work or they have worked in Past Present of future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Charts do not represent anything. We are just showing positive and negative aspects of the stock. Equity investment is subject to risks. I or family members might have positions in the stocks that we mention in our educational posts. We are not a SEBI registered Research analyst. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
So global uncertainity and macro geoplotical reasons and developments are the reasons to watch out currently. Let us see how the situation plays out. We will see a further sharp up or down move based on what happens between Iran and US during the weekend.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work or they have worked in Past Present of future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Charts do not represent anything. We are just showing positive and negative aspects of the stock. Equity investment is subject to risks. I or family members might have positions in the stocks that we mention in our educational posts. We are not a SEBI registered Research analyst. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.