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

Indiabulls Weekly: 8-12 Nov: Tested by Resistance Line at 221: Don't buy yet

INDIABULLS Weekly NSE Stock Chart Technical Analysis:

The week remained indecisive for Indiabulls.  In the last week, the price had finally broken through the long term resistance at 221.  It seemed like there were good times ahead for Indiabulls.  But in this week the price remained with the last week's range and traded 7.44 M shares, almost 60% of last weeks 12.66 M shares.

Open: 232, Close & CMP: 225.65, High: 239.9, Low: 222.1

Market Outlook: 

• 221 is a very important level.  It seems like the price will fall back beneath 221 again this week after 2 weeks of staying above it.
• Don't buy Indiabulls yet.  In fact, keep an eye for opportunities to play short and make money

Technical Indicators:

• The RSI is showing a slowdown after flying into overbought levels.
• This week's candlestick remained within the last week's candlestick, to create something similar to the Harami pattern
• Rs 221 is a long term resistance for Indiabulls.  The price seems like it will fall back below this level yet again.
• In case the price takes support at 221 and rises back, it might be a good time to get into this stock.
• But if it falls below, wait and watch before taking a position.  Might be good opportunity to go short in the week after next.

INDIABULLS Weekly NSE Stock Chart Technical Analysis