IIFL Finance, Titagarh Rail, Patanjali Foods, IREDA and Tata Technologies Share Price Face Selling on F&O Entry
IIFL Finance, Titagarh Rail, Patanjali Foods, IREDA and Tata Technolgies started trading in Futures & Options segment on Friday and the stock suffered major losses due to sustained selling. While most of the stocks witness better performance on addition to F&O category, the weak market sentiment led to decline in the stocks that listed in Futures and Options. TopNews has checked technical levels for these stocks for traders and short term investors.
Key Insights for Each Stock Based on Fibonacci Levels
IIFL Finance
IIFL Finance
Support at Rs 299.60: This level serves as a crucial support, preventing further downside.
Resistance at Rs 321.30: If the stock surpasses this level, it may indicate a strong bullish trend.
50% Retracement at Rs 310.45: The stock consolidating around this level may suggest a temporary pause before the next move.
Titagarh Rail
Strong Support at Rs 692.70: Investors may accumulate the stock at this price in case of a pullback.
Resistance at Rs 727.80: If the stock breaks this level, momentum buying may accelerate.
38.2% Retracement at Rs 714.39: A slight retracement here could indicate a potential price reversal.
Patanjali Foods
Major Support at Rs 1,570.00: Holding above this level is crucial for maintaining long-term bullish momentum.
Resistance at Rs 1,814.15: A breakout here could push the stock toward fresh highs.
61.8% Retracement at Rs 1,663.27: Watch this level as it often acts as a turning point in market trends.
IREDA
Support at Rs 151.50: A strong base where buying interest may emerge.
Resistance at Rs 162.33: Surpassing this level could signal renewed upward momentum.
50% Retracement at Rs 156.92: A neutral point where the price may consolidate before deciding the next direction.
Tata Technologies
Support at Rs 664.45: This level serves as a key defense against further decline.
Resistance at Rs 708.95: A successful breakout above this level may lead to a strong rally.
23.6% Retracement at Rs 698.45: If the stock stabilizes here, upward momentum remains intact.
Fibonacci Levels for Traders
| Stock | 0.0% (Support) | 23.6% | 38.2% | 50.0% | 61.8% | 100.0% (Resistance) |
|---|---|---|---|---|---|---|
| IIFL Finance | Rs 299.60 | Rs 316.18 | Rs 313.01 | Rs 310.45 | Rs 307.89 | Rs 321.30 |
| Titagarh Rail | Rs 692.70 | Rs 719.52 | Rs 714.39 | Rs 710.25 | Rs 706.11 | Rs 727.80 |
| Patanjali Foods | Rs 1570.00 | Rs 1756.53 | Rs 1720.88 | Rs 1692.08 | Rs 1663.27 | Rs 1814.15 |
| IREDA | Rs 151.50 | Rs 159.77 | Rs 158.19 | Rs 156.92 | Rs 155.64 | Rs 162.33 |
| Tata Technologies | Rs 664.45 | Rs 698.45 | Rs 691.95 | Rs 686.70 | Rs 681.45 | Rs 708.95 |
