Resistance Level refers to a price level at which a stock faces selling pressure, preventing it from rising further. This is typically a level where many traders or investors choose to sell, believing the stock has reached its peak. When a stock hits resistance, it may struggle to break through that price and could either reverse or consolidate.
Traders often use resistance levels to make decisions about buying, selling, or holding stock, as it indicates potential price barriers that could limit upward movement.
ICICI Bank Limited
ICICI Bank is one of India’s largest private-sector banks, offering a wide range of financial products and services to individuals, businesses, and corporations, the bank has a strong presence both domestically and internationally, with a focus on digital banking and customer-centric services.
With a market capitalization of Rs. 9,47,628.46 crores on Friday, the stock closed at Rs. 1,343.10, which is below the strong resistance level of Rs. 1,351.35. It is the zone where traders or investors make decisions about buying, selling, or holding stock, as it indicates potential price barriers.
Coromandel International Limited
Coromandel International is a leading agri-solutions company in India, primarily engaged in the manufacturing and distribution of fertilizers, crop protection products, and retail services. The company focuses on sustainable agriculture and aims to enhance farmers’ productivity and profitability.
With a market capitalization of Rs. 58,276.24 crores on Friday, the stock closed at Rs. 1,977, which is currently trading below the strong resistance level of Rs. 1,986.55. It is the zone where traders or investors make decisions about buying, selling, or holding stock, as it indicates potential price barriers.
Interglobe Aviation Limited
Interglobe Aviation is the parent company of IndiGo, India’s largest low-cost airline. It operates domestic and international flights, offering affordable air travel. The airline is known for its efficient operations and strong market presence in the Indian aviation sector.
With a market capitalization of Rs. 1,94,682.03 crores on Friday, the stock closed at Rs. 5,044.05, which is currently trading below the strong resistance level of Rs. 5089.30. It is the zone where traders or investors make decisions about buying, selling, or holding stock, as it indicates potential price barriers.
JSW Steel Limited
JSW Steel is a major player in the Indian steel industry, producing a wide range of steel products for various sectors including construction, automotive, and infrastructure. The company has a significant global presence and is known for its high-quality steel production and technological innovations.
With a market capitalization of Rs. 2,59,095.85 crores on Friday, the stock closed at Rs. 1,058.70, which is currently trading below the strong resistance level of Rs. 1,060.60. It is the zone where traders or investors make decisions about buying, selling, or holding stock, as it indicates potential price barriers.
Written by Sridhar J
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