The share touched its 52-week high Rs 1,872 and 52-week low Rs 1,106.10 on 06 September 2018 and 23 August 2019, respectively

The share price of Dynamatic Technologies surged more than 19 percent intraday on August 26 after India Ratings changed its outlook to positive from Stable. However, it plunged into the red later.

India Ratings & Research has revised the outlook to positive from stable while affirming its long-term issuer rating at IND BBB+.

Dynamatic Technologies was quoting at Rs 1,151.10, down Rs 36.70, or 3.09 percent.

The share touched its 52-week high Rs 1,872 and 52-week low Rs 1,106.10 on 06 September 2018 and 23 August 2019, respectively.

Currently, it is trading 38.51 percent below its 52-week high and 4.07 percent above its 52-week low.

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If Nifty has to regain any strength, the bank index needs to step up. Hence, one needs to closely watch how banking conglomerates perform in the coming week

The market witnessed selling pressure, which pushed the Nifty below the 10,650 marks on August 23. Fortunately, strong buying emerged at lower levels in the following hour and thereafter, the index saw a V-shaped recovery to not only trim all losses but also to enter the positive territory and reclaim the 10,800 marks

We are trading in an extremely oversold zone and reached crucial February lows around 10,600. Technically, we can see the formation of ‘Bullish Piercing’ pattern on the daily chart (in Nifty).

The said pattern will show its significance once the index manages to sustain above 10,900. In this scenario, we can expect further recovery towards 11,050–11,150.

If Nifty has to regain any strength, the bank index needs to step up. Hence, one needs to closely watch how banking conglomerates perform in this week.

For Nifty, the support can be seen around 10,728–10,637 levels. In case of a breach, from these crucial supports, we can see an extended correction in the market.

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