JBM Auto has seen a decisive breakout of falling resistance trendline and formed robust bullish candlestick pattern on the daily charts with healthy volumes. The stock stayed above all key moving averages.
The market seems to have entered into consolidation mode with hurdle on the higher side at 21,593, the record high, and the support for the Nifty 50 on the lower side at 21,200-21,000 levels.
Oscillators have reached the overbought zone on the daily and weekly charts for the Nifty. However, unless important support breaks on the price charts, a trend reversal would not be confirmed
RBL Bank has recently experienced a robust breakout from the consolidation zone between Rs 258-210, accompanied by a strong bullish candle, indicating a continuation of medium term uptrend.