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Wednesday, November 3, 2010

Kinetic Motors - New Line of Support


KINETIC MOTORS Daily NSE Stock Chart Technical Analysis:

Kinetic Motors has found a new line of support - the same diagonal which was acting as a line of resistance.

The price closed today at Rs 38.2 after opening at 40.8 and both open and close stayed close to yesterday's levels.

Market Outlook: The price on Thu should remain between Rs 36 and Rs 42.

Technical Indicators:
  • The 20 day moving average has gone above the price and stayed there since 5 days, which is a slowdown sign.

  • The interest in the stock has also slowed down at this price level.  A sudden push in either direction may happen soon.  

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