Stock Market Analysis 04.09.2024

Technical Analysis of IEX

Today's trading activity suggests a neutral stance among traders, with IEX consolidating in a narrow range. For intraday traders, opportunities could arise from short positions near the resistance level of ₹204.58 and long positions near the support level of ₹203.42. Swing traders might consider entering long positions if the stock breaks and sustains above ₹204.58 with increased volume, targeting a move towards ₹205.50 or higher.

Open: ₹204.10

High: ₹204.58

Low: ₹203.42

Close: ₹204.37

Conversely, caution is advised if the stock breaks below ₹203.42, as this could signal the start of a minor pullback. Monitoring the overall market sentiment and trading volumes in the coming sessions will be crucial in identifying potential breakouts or breakdowns.

Technical Analysis of L&T Finance

Today, L&T Finance Holdings (LTFH) exhibited a narrow trading range, reflecting a day of limited volatility. The stock opened at 171.68, marginally above the previous close, indicating a slightly positive sentiment at the start of the trading session. However, the day’s price action remained relatively constrained.

• Open: 171.68
• High: 171.79
• Low: 170.86
• Close: 171.21

Price action in L&T Finance Holdings reflects a day of consolidation with limited volatility. Traders should remain cautious and watch for a breakout of the narrow range to determine the next directional move. The stock's current positioning near support levels might offer an entry point for those expecting a rebound, while a breakdown below the support could signal further downside risk.

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