Latest Technical Research 06 july 2020

KOTAK MAHINDRA BANK

• Kotak is moving sideways with no trend confirmation
• RSI is moving around 50-level.
• TT2 trend is currently Bullish

• For a definite up move confirmation, the price must breaks 1398 price with good volume and conviction. the next resistance is 1428/1462.
• If the Support Level of 1312 is broken, the next support is 1268 on 30mins chart.
• in case of GAP opening, the given levels become invalid.
  

JUSTDIAL LTD.

JUSTDIAL is moving in a narrow range from more than a week now and has formed an NR9 pattern in DAILY timeframe .

The price is facing a strong SUPPORT from the DEMAND ZONE 378-381.

• RSI is below 40 and represents downtrend.
  TT2 30mins trend is Bearish .
• Once the Demand Zone is broken with Volume and Conviction, the next Support on the Charts is 371. After breakdown, the Demand Zone will act as a Resistance.
• On the upper side once the resistance level of 393 is broken, the next resistance is 406/413 on the 30mins chart.
• In case of GAP opening, the given levels become invalid.

GLENMARK PHARMA

GLENMARK is moving sideways and has formed a triangle pattern in 30 mins chart.

• RSI is taking support from 40-level and is Bearish .
  TT2 30min Trend is BULLISH .
  Volume is extremely Low right now.
• For upward move, the price needs to break 445.15 with good volume and follow the breakout with conviction. The next resistances are 464.7/475. Support is 423.
• If the price breaks the low of 423.35, the next support is 414/398/387 on a 30mins chart.
• In case of GAP opening, the given levels become invalid.
  

INTERGLOBE AVIATION

INDIGO has formed a symmetrical triangle pattern on 30mins chart. It is gradually moving forward in an upward channel and is facing resistance from 100EMA.

• RSI is taking resistance from 60-level.
  TT2 30MINS trend is Bullish .
• If the price gives a breakout with volume and conviction, the next resistance is 1033/1039/1048 with Support 994.
• If the price falls down from the pattern, the next support is 994/983 on the 30 mins chart.
  Nearby resistance is 200EMA.
• in case of GAP opening, the given levels become invalid.
  

AXIS BANK

AXISBANK is trading in a tight range from 2 days and had formed a symmetrical triangle pattern in 30mins charts.

• RSI is heading towards 60-levels and represents strength.
  TT2 trend is currently Bearish .
• For the upper breakout, the prices need to give a pattern breakout with volume and must be followed with conviction. After breakout, the next resistance is 441.35 followed by 448.
• On the downside, the stock is taking a strong support from the trendline . Once broken the next support is 421.3 and 410.15 on 30 mins chart.
• In case of GAP opening, the given levels become invalid.
  

TVS MOTOR CO.

TVSMOTOR is moving in an ascending channel and closed at the resistance level 396.70.

• RSI is above 60-level and is BULLISH .
  TT2 trend is BULLISH in 30mins.
• If the price breaks 397.75, the next Resistance is 400/408.95. Support is 389.
• In case of GAP opening, the given levels become invalid.