Reliance Power Technical Chart | 10 Feb 2011
By admin on Feb 10, 2011 with Comments 2
Another good example to show the power of Ichimoku.
Reliance Power, listed in Indian stock market, closed below kijun-sen line @Rs.155.30 on 07-Jan-2011. As expected, that was the sign of beginning of downtrend. From there, it started moving downward and at the time of writing article, its previous close was Rs.112.20. The future kumo is also bearish and weak chart shows that it will correct further also.
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Hello,
What charting platform are you using for the Ichimoku charts and Indian stocks?
I prefer to use MetaTrader 4 at this stage. All the indicators posted here till date works on this platform. Unfortunately, MetaTrader does not support Indian stocks at this moment. However, you can use my technical analysis of my other website for Ichimoku indicator for Indian stocks. The link is http://www.investmentkit.com/dodacharts/stockmarketchart/showchart.shtml
Hope it will help you.
Admin