Indiamart view for next week or month. As the stock is near a reversal phase.
Indiamart has been taking support from its 20 ema on a daily time frame and has spent 3-4 days trading near its moving average.
On volume analysis, it seems to be in an accumulation zone as the volume are low.
The stock on technical analysis is quite bearish as its has been trading below it 20 ema on higher time frame.
If the stock breaks the resistance levels of 5200 and 5372, it can move to the levels near 6400 as there was a big fall.
Support :- 4585, 4330
Resistance :- 5200,5370
The stock has been consolidating, so wait for the levels to break out of the levels with high volumes.
For long term it is a nice bet at these levels. Long term investors can create or add to their a position.
Indiamart has been taking support from its 20 ema on a daily time frame and has spent 3-4 days trading near its moving average.
On volume analysis, it seems to be in an accumulation zone as the volume are low.
The stock on technical analysis is quite bearish as its has been trading below it 20 ema on higher time frame.
If the stock breaks the resistance levels of 5200 and 5372, it can move to the levels near 6400 as there was a big fall.
Support :- 4585, 4330
Resistance :- 5200,5370
The stock has been consolidating, so wait for the levels to break out of the levels with high volumes.
For long term it is a nice bet at these levels. Long term investors can create or add to their a position.
