AU Small Finance Bank Ltd. - STOCK ANALYSIS
https://www.tradingview.com/x/iocSVGwY/
AU Small Finance Bank Ltd. Here's a breakdown of the analysis based on the chart:
Key Observations:
Price Movement:
The stock dropped by 14.07% (approximately 98.10 INR) in the recent decline phase, followed by a strong recovery of 13.91% (around 97.75 INR).
The current price of the stock is 733.90 INR.
Recovery After Correction:
After a significant drop, the stock has shown a strong bounce back. This reflects renewed buying interest and a recovery in the stock’s price.
Support and Resistance:
The support level appears to be around the 630-650 INR range, where the price found a bottom during the correction.
The resistance level is likely around 740-760 INR, which may act as a barrier for further upward movement unless there’s a strong breakout.
Volume and CVD:
The CVD (Cumulative Volume Delta) shows positive values indicating more buying than selling pressure in recent sessions. This is a positive sign for the stock, showing strength in the recovery.
Outlook:
The stock is approaching resistance. A breakout above the 740-760 INR level with good volume could trigger more upward movement.
On the downside, failure to break resistance may lead the stock to consolidate or revisit lower support levels.
Conclusion:
The stock is currently in a recovery phase after a significant correction and is approaching key resistance.
A breakout above 740-760 INR could lead to a continued rally, while the support at 630-650 INR is a crucial level to watch for any pullbacks.
AU Small Finance Bank Ltd. Here's a breakdown of the analysis based on the chart:
Key Observations:
Price Movement:
The stock dropped by 14.07% (approximately 98.10 INR) in the recent decline phase, followed by a strong recovery of 13.91% (around 97.75 INR).
The current price of the stock is 733.90 INR.
Recovery After Correction:
After a significant drop, the stock has shown a strong bounce back. This reflects renewed buying interest and a recovery in the stock’s price.
Support and Resistance:
The support level appears to be around the 630-650 INR range, where the price found a bottom during the correction.
The resistance level is likely around 740-760 INR, which may act as a barrier for further upward movement unless there’s a strong breakout.
Volume and CVD:
The CVD (Cumulative Volume Delta) shows positive values indicating more buying than selling pressure in recent sessions. This is a positive sign for the stock, showing strength in the recovery.
Outlook:
The stock is approaching resistance. A breakout above the 740-760 INR level with good volume could trigger more upward movement.
On the downside, failure to break resistance may lead the stock to consolidate or revisit lower support levels.
Conclusion:
The stock is currently in a recovery phase after a significant correction and is approaching key resistance.
A breakout above 740-760 INR could lead to a continued rally, while the support at 630-650 INR is a crucial level to watch for any pullbacks.
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