April 13, 2010


  • 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 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 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


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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