Karur Vysya Reaches Support Line @ 520: Possible Buy If Rises

KARUR VYSYA BANK Daily NSE Stock Chart Technical Analysis:

Karur Vysya CMP 520.9 after opening at 529.5.

Market Outlook:

• The price has potential to move upwards in a day or two.  Keep watching Karur Vysya.
• If it moves up with good trading volume, the target is around 546-550 levels.

Technical Indicators:

• Fibonacci 23.6% support at Rs. 520.  
• Price has taken multiple support at 520 in the past and has formed a double bottom today in a span of one month.
• The stock price is already in the oversold levels and so could rise again soon.
• If price closes below 520, it will have a tough time rising up again and will stay down for some more time.

KARUR VYSYA BANK Daily NSE Stock Chart Technical Analysis

Bajaj Auto Buy Signal - Price begins another short term upswing

As exptected in yesterday's post, Bajaj Auto went back up again after reaching its 50 day moving average today.  The market opened gap up and ended up at 1510.95.

The volume is average, other technical analysis indicators are looking up.  This means the stock is about to make another short term upswing.  

Go long on Monday market opening.  There is no target, but put a stop at 1462.  Sell when the stochastics blue line crosses the red line, or the RSI starts falling back (preferably when RSI is falling back from above the oversold level of 70%).  The small swing should last 4-7 days, as is seen in the recent past.  Keep a watch on these indicators daily if you go long on Bajaj Auto on NSE on Monday market opening.