April 13, 2010

BAJAJ HINDUSTAN MONTHLY CHART
BAJAJ HINDUSTAN DAY CHART

  • BAJAJ HINDUSTAN monthly chart is forming an inverted head and shoulders
  • this stock has broken the trend line in day chart.
  • keep 130 as stop loss on closing basis and go long.
  • if inverted head and shoulder takes effect this can be a very good positional trade. 
          take care
          thank you
ISPAT INDUSTRIES MONTHLY
  • ISPAT INDUSTRIES has formed a triangle on the monthly chart.
  • volume is very low while the stock seems to come down steadily
  • take long position towards the bottom of the triangle keeping the triangle bottom as the stop loss. this will give you a good risk reward ratio
  • stock may at least rally till 35 looking at the size of the triangle.
GAIL WEEKLY
  • GAIL strong run from 224 levels with the weekly MACD buy signal
  • GAIL currently moving sideways within the channel along with a MACD  sell signal.
  • weekly sell is still not confirmed.
  • weekly sell will be confirmed if the price breaks the channel.
  • if the resistance of 430-440 breaks and a close above these levels will be the confirmation for the uptrend continuation.
          thank you
          take care

Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore