BF Utilities: Sideways Movement

BF UTILITIES Daily NSE Stock Chart Technical Analysis:

BF Utilities fell again today, after hitting the short-term resistance at 900.

Close & CMP: 841.35

Market Outlook:

• Yesterday, the price had risen as an important court verdict cleared the way for a new project, but seems like today the market still chose to not respond positively.
• The stock price fell today after hitting 900, so 900 has emerged as a strong resistance for the time being.
• Can be viewed positively only if it breaks both 900 and 957.
• BF Utilities ९०० को छू कर गिर गया, जबकि कल इस कंपनी को फायदेकारक कोर्ट फैसला मिला था.  

Technical Indicators:

• The price is in a range of 957-686 since a long time, with some exceptions.
• A bearish counterattack candlestick formed today.
• There was a sudden surge in interest, but in making this stock price fall.
• The operators are playing this one heavily, expect further volatility in BF Util, could be a good one for day traders to make short term trades.

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BF UTILITIES Daily NSE Stock Chart Technical Analysis

NIFTY: Still Sideways

NIFTY Daily Chart Technical Analysis:

NIFTY had another big fall today, but in fact it was just another sideways movement with a slightly lower close.

Close & CMP: 5396

Market Outlook:

• The price made a sharp U-turn today and showed its bearish intentions, after attempting a recovery yesterday.
• NIFTY has remained above 5350, below which things start getting dangerous and another big fall could be expected.
• NIFTY ने गिरना जारी रखा. बेर्स ने मार्केट पर अपना कण्ट्रोल जमा रखा है. ५३५० महत्त्वपूर्ण सप्पोर्ट है. 

Technical Indicators:

• Yet another bearish engulfing pattern occurred today.
• The move was strong considering the range and volume.
• Currently, market is sideways and resting on an important support line.

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NIFTY Daily Chart Technical Analysis