Tata Steel, Vedanta and SAIL have seen sharp fall in their stock prices in the recent months.
If the Nifty Bank index stays below 2,600 level for another week, then a major breakdown may lead to a long term bearishness, tech charts suggest.
Weekly technical recommendation by Religare Broking
Here are the weekly stock recommendations by Religare Broking
MACD crossing above MACD baseline means a positive trend will emerge for the stock/index going ahead.
The stock is trading above its 5, 20 and 200-day simpole moving average (SMA), indicating that the counter is in an uptrend for all the time frames