April 12, 2010

State Bank Of india facing resistance near channel top

  • The stock is trading near the channel resistance.
  • The stock went up with low volume.
  • look for a trend line break which can give at least 100 points on the down side.
  • MACD in daily chart is about to give a sell. will be confirmed in the next 2 days.
  • keep the channel top as stop loss and look for a short trade.
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Unitech Weekly triangle break out

  • Unitech has broken out of the weekly triangle
  • But it has to close above 81 for a good up move.
  • WEEKLY MACD is about to give a buy signal.
  • keep lower lower line of the small triangle as the stop loss and go long.

Aban offshore ltd potential triangle in the making

  • Aban offshore moving up within a large triangle.
  • Stock may move up till the channel top. so for short term long positions can be taken with channel bottom as the stop loss.