May 8, 2010

AHOK LEYLAND huge volume break out.

UPDATED CHART

ASHOK LEYLAND DAILY
ASHOK LEYLAND MONTH CHART
  • ASHOK LEYLAND has given a huge volume break out.
  • the stock has gone pass the resistance of 2008 high (57.5)
  • a daily close above the previous resistance area confirms the break out.
  • the stock may move to 65 in the coming weeks.

SAIL has formed a big M in daily chart.

UPDATED CHART

SAIL DAILY CHART
SAIL WEEK CHART

  • SAIL has formed an M pattern 
  • Break of trend line can bring it down to 200. Break of  197 means more bearishness for the stock.

CNX IT weekly chart technica analysis


UPDATED CHART 
CNX IT WEEKLY CHART
  • CNX IT weekly triangle has broken 
  • has immediate support at 5850 region. A break and close below the small triangle means more bearish news for stocks like INFOSYS.

BANK NIFTY daily in a triangle

UPDATED CHART

BANK NIFTY TRIANGLE
  • BANK NIFTY has formed a triangle.
  • there is clear negative divergence
  • the index is making new highs but at the same time the smoothed %D line has dropped below the 80% line suggesting an imminent correction.
  • but the price has not confirmed yet breaking the bottom line of the triangle will confirm the correction.