NIFTY Trend Score

NIFTY

The NIFTY has entered into a short term uptrend while the long term trend remains down as the 2 weeks moving average is still trading below 52 weeks moving average. The Index will enter into a long term bull trend provided it sustains prices above 5200 level for the next few days.

The downtrend of BAJAJ-AUTO is slowly reversing as the stock is signaling a medium term uptrend after yesterday’s rise. However, the long term trend of the stock is still down and a sustained price action above 1650 level will help change the long term outlook.

RANBAXY is looking good on the charts. The stock is showing uptrend on long term basis while it entered into a short term uptrend yesterday. Going forward, we expect the stock to trend higher and test its major resistance zone in the region of Rs 510-530. The major support level is visible at Rs 480.