Latest Technical Analysis Research 19 jun 2020

NIFTY 50
The index is trading at a very crucial level in the daily chart .
On the upside 10120 at 100 SMA is likely to act as an important resistance in the short term.
However, watchout for a 15 min close above 10120 which may lead to a short term breakout.
RSI looks positive as of now and has given a close above 60 in daily. It is Important to watch out for next 1-2 days which will decide further direction in the index.

ITC
The stock is trading at the string resistance in 15 mins charts and has formed an ascending triangle pattern.
RSI has taken support from 60 level and shoes potential to move further up.
Volume is more than average.
Once the prices break 188, the next resistance is 195.

Asian Paints Ltd.
The stock is trading below the previous week's close and has formed a descending triangle pattern in 15 mins chart.
RSI is weak and represents bearishness.
If the price closes below the previous week low 1577, the nearby support is swing low 1500 and resistance is 1625 on the 15 min chart.

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