Karur Vysya: Buy Only Above 520

KARUR VYSYA Daily NSE Stock Chart Technical Analysis:

Karur Vysya managed to close at 511, higher than its resistance.

Market Outlook:

• The price has tried to rise above its resistance and even managed to close above resistance.  This is a positive sign, but is still not convincing enough to take a long position.
• Crossing the previous support price line at 520 and closing above it is what can be seen as an indication to go long, if other indicators support the move. 

Technical Indicators:

• The price has crossed its resistance line of past month and closed above it.  The price tried to break resistance last week as well but failed.  Lets see if it can manage the same this time.
• The price is still below its 20 DMA.
• Earlier, the price was taking support on its 100 DMA but has since fallen below it.
• If price falls, support is available around 484.

KARUR VYSYA Daily NSE Stock Chart Technical Analysis

Earlier posts on Karur Vysya

Karur Vysya: Be Prepared

KARUR VYSYA Daily NSE Stock Chart Technical Analysis:

After taking support of the 100-DMA, the price rose to get back above its 520 support line and has stayed there for the last 5 days.  A sideways week until now for Karur Vysya.

Market Outlook:

• Watch out for the 520 level.  The price must stay above this for any quick future rise.  

Technical Indicators:

• Keep an eye on Karur Vysya to make money, an opportunity soon.
• The stock is all set to gain speed ... but this could be either upwards or downwards.  Get ready for both opportunities - to buy or to short.   
• If it jumps up, 639 is a good target.  If it crashes, support is available at 444.
• There's a group of tweezers formed, the market is undecided and preparing to make a head in a single direction soon.

KARUR VYSYA Daily NSE Stock Chart Technical Analysis

Karur Vysya: 100 DMA Support @ Rs 500

KARUR VYSYA Daily NSE Stock Price Technical Analysis

Unlike expected yesterday, the price fell heavily today, losing quite a bit in the 2nd half.  But, I feel that this is simply because of the overall market fall today and has nothing to do with Karur Vysya's potential to give returns.

Open: 523.05  Close:  502.85

Market Outlook:  

• I'm expecting the price to rise up again.  If it does, I'm looking at taking a long position on this one soon, especially if it rises above 520 with good trading volume and other indicators pointing upwards as well.

Technical Indicators:  

• There is unusually large negative activity on this stock inspite of the fact that there is no negative news about the company.  In fact, KV has recently won the 2nd best private sector bank award.  So this big fall today seems unwarranted.
• Today's fall looks like 1) Reaction to overall negative market and 2) A sudden short term hurry to liquidate positions by people who were worried when the support line at 520 was broken.
• The price finally found support at its 100 DMA near 500 and closed slightly above it.
• The stock price is flattening out in the oversold levels, pointing towards a possible rise again.
• Tomorrow should be able to tell us if we should indeed take a long position on KV at the CMP.  Wait for a day or two.  

 KARUR VYSYA Daily NSE Stock Price Technical Analysis

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

Karur Vysya: Strong Support @ 520, Will Rise Again

KARUR VYSYA Daily NSE Stock Chart Technical Analysis:

The price fell marginally today from its opening, after a good upward rally during the day.  CMP is 534.7.

Market Outlook:

The price will remain sideways tomorrow with possibility of lower intraday low than today.

The price will reverse its short term correction and rise upwards.

If price does not make an intraday low of 528 or below, its a good sign to buy around 232-235 levels with a target at 580 and another target near 639.

Technical Indicators:

The price made a Tombstone Doji candlestick today, good possibility of reversal.

Very strong double Fibonacci support for this stock at 520.

Support of the 50 day moving average.  The price has remained above 50 day moving average since Apr 2009, i.e. 1.5 years.  It has again touched its 50 day moving average and will rise.

Public sector banks are in full bloom on the stock market.  Enjoy the ride!! :)  [while it lasts, nothing is forever]



KARUR VYSYA Daily NSE Stock Chart Technical Analysis


(Analyzed for Yasoram, Erode)