DSIJ Mindshare

Jindalsaw Limited has given a breakout of the downward sloping trendline with relatively higher volumes.

The Bollinger Band Squeeze occurs when volatility falls to low levels and the Bollinger Bands narrow. A volatility contraction or narrowing of the bands can foreshadow a significant advance or decline.

On November 14, 2018, Bank Nifty came out of weekly contracting consolidation zone. On the weekly time frame, the index formed bullish candle carrying long lower shadow as on week ended November 16, 2018, and for the first time, it has closed above the 21-week exponential moving average (EMA) after September 21, 2018.

PFC witnessed fierce sell-off of 6.03 per cent from its strong weekly downward sloping trend line resistance zone, on Friday.

In the short-term, Rs 575-570 is likely to act as a strong support zone. While the momentum is likely to been seen when the stock manages to sustain above the recent swing of Rs. 637 per share.