Monday, April 28, 2014

Technical Analysis on Reliance Industries PART-2

As per now, we have seen a bearish breakout in the trend. It was obvious as there was a negative reversal building up in this stock. As the stock was between 840-925 for a long time. As per my analysis, the stock is healthy until the long moving average are giving bullish signal.  

Thursday, April 24, 2014

Technical Analysis on SBIN (State Bank of India)

I m looking SBI for a correction. The stocks is at its resistance and if the trend line gets broken the stock will drop at its support 1837. 

Wednesday, April 23, 2014

Techncial Analysis on Request: Tata Global Beverage

There are no major buy signal on this stock. The RSI had made a negative reversal the upside resistance is 3% from the last closing price. Support is at 153. 

Technical Analysis on request: Adani Power

The stock is in a correction phase and it will correct till its support at 56/41. MACD has also given a negative crossover

Technical Analysis on Sintex Industries Part-2

In my last article I had given my views on sintex and the stock has 56% profit(Click here to read my last article). Now the stock will correct, as the oscillators are giving negative divergence signal. The stock has a resistance at Rs.51-52 and support at Rs.43/Rs.37. Keep looking at the trend-line if there is a dowside breakout the stock will rest till its support.  

Negative Divergence

Sunday, April 20, 2014

Technical Analysis on request R Power

The stock has clearly given a reversal. If anyone have holding, it is better to  hold. The resistance are as follows 77/88/107/120. The stock is a safe heaven above 60. Below which, the stock will again turn a bearish stock.

Technical Analysis on Request: Reliance Ltd

From last few days Reliance is a buzz on every investors mouth because the long moving averages have made a bullish crossover. The stock has given a Golden Crossover (bullish cross) which is basically a powerful crossover and well trusted one.

Normally, a stock with golden crossover is expected to be a multi-bagger stock. the short term resistances are 1020/1050/1100/1150. The supports are  920/850 and other multiple supports


Saturday, April 19, 2014

Technical Analysis on Request: RCom

After a short correction, making a high of 160. The stock had shown negative divergence and started correcting. Thus forming a Flag pattern. In another perspective we can even see  Descending Triangle. It is clear that the stock has given bullish breakout in both Flag and Descending Triangle.

The Technical Indicator MACD say a different story: It is about to give a bearish cross-over. RSI had touched overbought level and now at a neutral zone.

The price recently gave a breakout in 200 day moving average and was not able to sustain the trend and started correcting.
Strategy: As MACD is a Moving Average based indicator and it is worth trading the pattern. currently the support is at 110 and resistance is at 160. Let the correction happen if MACD give a bearish crossover we can wait till 110 and if the stock don't show any reversal and continue to be bearish it is not a worth buy. If it show a reversal and give a conformation by crossing 200 DMA. It is on a bull run. 

Tuesday, April 15, 2014

Idea Cellular: continuation of downtrend (Technical Analysis on request)

For a few days from now the Idea  Cellular was making a bearish divergence on RSI and today it has given a downside breakout. which will lead the stock price to 125 or 101 within next few months. Here in the picture below we can see that the stock has given a downside breakout for the divergence

The possible supports for Idea

When we see at larger picture of Idea cellular we  can see that the stock has given a breakout(Downside/ Bearish) and failed to regain the bullish trend. Thus leading the stock into downtrend. Most of all major moving average namely 50DMA, 100DMA, 200DMA have given a negative crossover which is now making this stock a unfavorable piece of stock.