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ValueProductPastPerformance

Company NameReco DateReco PriceExit PriceExit Date% ReturnIn days
Bharat Forge Ltd. 25/07/20241,593.85952.3007/04/2025 -40.25% 256 days
ITC Ltd. 28/12/2023464.20487.5002/01/2025 5.02% 1 yrs
Britannia Industries Ltd. 27/07/20234,875.805,028.2512/11/2024 3.13% 1 yrs
JSW Steel Ltd. 22/02/2024826.951,003.0026/09/2024 21.29% 217 days
Bajaj Auto Ltd. 22/08/20249,910.0011,930.0017/09/2024 20.38% 26 days
Dr. Reddy's Laboratories Ltd. 26/10/20235,429.306,536.0005/07/2024 20.38% 253 days
Shriram Finance Ltd. 25/04/20242,430.102,955.0028/06/2024 21.60% 64 days
Coal India Ltd. 25/01/2024389.50501.6022/05/2024 28.78% 118 days
Infosys Ltd. 27/10/20221,522.601,411.6019/04/2024 -7.29% 1 yrs
State Bank Of India 25/05/2023581.30782.0505/03/2024 34.53% 285 days

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Astrazeneca Pharma bounces from trendline support
Vinayak Gangule
/ Categories: Trending

Astrazeneca Pharma bounces from trendline support

Considering the weekly time frame, the stock of Astrazeneca Pharma India Limited bounced back from the edge of a rising trendline support that is formed by connecting the swing lows since December 2018, which coincides with long-term moving average, i.e. 100-week SMA level. The reversal from the support is further justified with relatively higher volumes.

Currently, the stock is trading above its short and long-term moving averages, i.e. 50-week EMA, 100-week EMA and 200-week EMA. Among the momentum indicators, the 14-period weekly RSI took support at 40 level, historically many times and this time also, it bounced exactly from the same level. 

The weekly stochastic has also given a positive crossover. Moreover, the daily MACD stays bullish as it is trading above its zero line and the histogram is suggesting that an upside momentum is picking up.

Going ahead, the zone of Rs 2,328-Rs 2,240 is likely to act as an immediate support while, a major support is placed in the zone of Rs 1,970-Rs 1,885 as it is the confluence of 100-week SMA and the upward sloping trendline support. On the higher side, the level of Rs 2,550, followed by Rs 2,730, would be seen as the next resistance zone for the stock.

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