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Market Trading Guide: Balmer Lawrie, GNFC among 9 stock recommendations for Monday – ​Stock Ideas


The inventory worth has given a breakdown of the Rising Development line on the day by day chart with a Bearish candlestick. The general construction of the counter could be very Bearish, as it’s buying and selling beneath all of its vital transferring averages. As well as, the Technical indicator Ichimoku cloud means that the value is buying and selling beneath the conversion & Baseline which exhibits a Unfavorable pattern within the counter. A momentum indicator RSI (14) studying is beneath 50 ranges.

Therefore, based mostly on the above-mentioned technical construction, one can provoke a brief place within the inventory at Rs 522.75 or an increase within the worth until Rs 523.40 ranges can be utilized as a promoting alternative for the draw back goal of Rs 503. Nevertheless, the bearish view will likely be negated if the inventory closes above the resistance degree of Rs 531.70.

(Ashish Manoj Katwa, Analysis Analyst, Bonanza Portfolio)



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