RSI: RSI ia at 67 levels. The stock has given the breakout after being in consolidation for several days. We can see an upside movement in the coming week. Traders can take a trade at a given entry price.
Moving Averages: The 5 day SMA is above the Bollinger Bands 20 days MA Band. . You can keep the 5 SMA Line as trailing stop loss once the target achieved.
Bollinger Bands: Stock has to brake the upper Bollinger band with a good amount of volume. If it sustained at this level we can see a strong bullish trend.
Volume: Volume is above its average volume.
RSI: RSI is at 74 levels. The stock has given a breakout in the daily chart. Traders can take a trade at a given entry price.
Moving Averages: 5 days SMA is above the Bollinger Bands 20 days MA Band. You can keep the 5 SMA Line as trailing stop loss once the target achieved.
Bollinger Bands: Stock has crossed the upper Bollinger band. Stock is currently on its all-time high. Stock is on an uptrend for the past 1 month. We can see that it continues its trend.
Volume: The volume of the stock is very high from its average volume.
|NIFTY 50 ANALYSIS|
1.On 4th June 2021. Nifty opened at 15,712.50, made a high of 15,733.6 and a low of 15,622.35. It was a small bearish candle, it is near the upper Bollinger band. Nifty is around its all-time high that is 15,733.35
- On daily charts, Nifty is in an uptrend as RSI is around 70.31 It means nifty can show retracement from here in the upcoming days.
- As Nifty breaks out the levels of 15,000, it has given a clear uptrend movement in the past week. As nifty is an all-time high nifty is in an uptrend from the past 2 weeks and it’s like to continue this trend. Nifty will break its record high in this coming week. Though RSI signals that nifty is at the overbought zone but due to global cues nifty will be in an uptrend in this week.
- On 4th June 2021. Bank Nifty opened at 35,657, made a high of 35,810.9 and a low of 35176.15, and closes at 35,291.65. It was a loss of 1.00% from the previous closing. It is between the 5-day SMA and the upper Bollinger band.
- Bank Nifty is in the consolidation zone after seeing the previous 5 days candle. On watching these candles there is no clear trend that where will bank nifty will go in the upcoming days. As it is trading near its all-time high if there is a breakout we can see that bank nifty will go in an uptrend and vice versa. As the chances for bank nifty to go down is very low.
- Resistance for banknifty is 35,700 as it touches this level and retraced from there for the past 3 trading sessions. To remain in the bullish zone Banknifty needs to break these levels this week.
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