GAIL weekly chart technical analysis

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

State Bank Of india facing resistance near channel top

SBI WEEKLY CHART

• 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.

          Take care

           thank you

Unitech Weekly triangle break out

UNITECH WEEKLY UPDATED

UNITECH WEEKLY

• 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.

Reliance Industries force index negative divergence

• The positive divergence of force index in reliance industries in February gave a good rally from 970 range to 1150. 
• But during its journey to 1150 force index has formed a negative divergence.
• This negative divergence makes it even tougher for reliance to cross 1150.
• Take long position only on a convincing break of 1150.

thank you

take care

Nifty Daily Chart technical analysis till 9th april

• The ovals shows how smart money gets out of the market
• We already had one round of profit taking last week
• But fridays price action is an indication that there is some more upmove left.
• The channel is getting converged so a false break out toward the weekly channel top is possible.
• We will see the second round of profit taking at the weekly channel top if we get there.
• The daily stochastic, cci is in overbought status so look for  negative divergence when it goes pass 5400.

Mahindra & Mahindra LTD Triangle breakout trade

This post is for my friend ARS

He has asked about M&M Charts.

Mahindra & Mahindra LTD has formed a triangle in the daily time frame.

Look for a break out of the triangle and close above or below 5 EMA.

If you follow the price, most of your trades will give you profit.

Don't try to predict a reversal. See the reversal on the chart and you turn with it.

thank you

take care