IPO India Information (BSE / NSE)

Showing posts with label Wedge Fromation. Show all posts
Showing posts with label Wedge Fromation. Show all posts

Wednesday, September 10, 2014

Reliance Capital: A View


After, Modi coming up with new banks license in India all the trader in the stock market are having a keen interest on the stock which is getting the banking license. Among which we have Reliance who is a big player and the chance of getting the permit is very high.

Technical Perspective
The stock is showing the divergence and we can see a falling wedge pattern . On 9th September 2014 the stock had given the positive breakout and the on 10th September 2014 i.e today the stock had shown a Doji. And we can see the can open with a positive note tomorrow. If not; the stock can end up falling to 500 which is the immediate support. And 577 and 670 are the good resistance. The stock has a potential to make a new high.


Additional Observation
The stock is showing negative correlation from last 6 months and we have to see that the patter will continue or the old pattern will repeat


Sunday, April 14, 2013

A Falling Wedge in Sensex


We have seen market consolidating, these days. The cocktail of negative news have driven market near to 18000 levels. Before it reach 18000 we are seeing falling wedge pattern forming. 
A Falling Wedge

A Divergence Building up 

Simultaneously, we are seeing a Bullish Divergence forming in market. As we are seeing a gap filling have started up in Sensex. We may see a reversal @18000 level after filling up of gap; which will eventually lead to a bullish breakout in Falling wedge.



Important SAR

Tuesday, November 20, 2012

Analysis on Apollo Tyres


Apollo Tyres is making a falling wedge pattern along with a bullish divergence forming, from a long days.  Still we haven’t seen any reversal candle forming; I expect 77rs will be a good support for this stocks. 89(Neckline of H&S) can cause some upside hurdle. The stock is looking good, the stock have a potential to move at least 12% within 3-4 months


Falling wedge pattern



A Bullish Divergence


SAR

Wednesday, September 19, 2012

ACC Ltd

Since June we have seen ACC Ltd souring high giving a profit around 23%. It is very recent that I saw some unhealthy pattern forming in ACC Ltd as follows

1.      Rising wedge: we are seeing a rising wedge pattern forming in ACC Ltd. We saw a bearish breakout in this stock on August. After which we saw a bounce back at 1290. As per know the stock is in a bearish condition.

2.      Divergence: In spite the stock is making a HH, but MACD as well as RSI is not able to form HH and we are seeing a HL thus forming a divergence in this stock.


Some important supports



Conclusion: The stock is not looking bullish, we may see a consolidation within few days


Wednesday, September 12, 2012

Breakout in Falling Wedge, Ashok Leyland



It’s a couple of weeks ago I had told you regarding a Falling wedge pattern forming on Ashok Leyland along with divergence. We had seen a Breakout yesterday, I expect a rally.   

The Resistance are as follow

Previous article on Ashok Leyland: Click Hear

Sunday, August 26, 2012

Ashok Leyland, a falling wedge


After witnessing Ashok making some lows, I smell some bullishness in this stock. It is recent; I have spotted a falling wedge formation along with a divergence forming. According to me, Ashok Leyland is going to make a new low then will get ready to shoot high.
We have recently seen MACD making a negative crossover and RSI giving a buy signal.

Conclusion:  wait till pattern complete, look for divergence.