Unitech Support at 100 day moving average

UNITECH Daily NSE Stock Chart Technical Analysis

The price rushed down today and closed at 89.25 after opening at 89.30.

Market Outlook:  The price should not fall much farther below today's intraday low of 85.2.  The intraday high on Wednesday should be around 87.6

Technical Indicators:

The price has found support at its 100 day moving average and resistance at its 20 day moving average.

Unitech Lines of Support & Resistance

UNITECH Daily NSE Stock Chart Technical Analysis:

Unitech gapped-up today with the overall market trend. 

Market Outlook:  The sudden gap up does not seem sustainable and cannot be considered reversal in trend as of yet.

Based on Tuesday's market, there might be a buy signal, I'll try and update the call tomorrow.

Technical Indicators:

• There are long term lines of support and resistance on Unitech.  Currently, the price will face resistance around Rs 92 and support near Rs 81.

• If it breaks any of these levels for more than 3 consecutive days, it can be considered that the price will remain in the new price channel for some more time.

(Analysis requested by Rajesh, Raipur)