STC: Resting on Support at 281

STC STATE TRADING CORP Monthly NSE Stock Chart Technical Analysis:

(This is the monthly chart and each bar/candle represents 1 month of activity, the last one is updated until 25th Jan)

STC has lost value for an entire year now, it has been falling since Feb 2010.
Current close & CMP: 284

Market Outlook:

• The stock price is really low and has found support.  There is a chance that the downfall might finally stop. 
• But I would not take any positions on STC right now, there are no trade signals yet.
• If you already have a position, hope that this support line sustains.  
• STC पिछले १२ महीनो से गिर रहा है.  आखिर में उसे अभी सुप्पोर्ट लाइन ने सहारा दिया है.  हो सकता है की अब आखिर में यह गिरना बांध करे और कुछ समय तक इसी भाव के आस पास चले.  

Technical Indicators:

• The price has reached its support at 284.  If this support sustains, the price will finally move upwards.
• If this support breaks, then the stock could fall to 215-225 levels.
• The price is at the level where it has consolidated in the past, so we might see a sideways movement again.
• The price has hit the oversold levels and so a correction could happen soon.
• The force index is also showing weakness, indicating that there is a possibility the market could stop falling further.
• For short term, if the price rises above 295, STC can be purchased and sold as soon as the price turns downwards again.
• If NIFTY takes a big hit, then STC might not be able to sustain and fall even further.

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STC STATE TRADING CORP Monthly NSE Stock Chart Technical Analysis