NIFTY TECHNICAL Analysis for 15th april 2010

NIFTY DAY CHART - I

NIFTY DAY CHART - II

• MACD day has given a sell
• 5 EMA - 7 DMA cross has not confirmed yet
• 5180 is a good support zone.
• An important trend line shown above is not yet broken.
• Bears will be stronger only below 5180.
• 5230 is a minor support zone.

BAJAJ HINDUSTAN monthly inverted head and shoulders

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 chart trading inside a triangle

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 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.