Rise and Fall of Parsvnath Developer Ltd. | Technical Chart | 24-Nov-2011

Below is the technical chart of Parsvnath Developer Ltd., listed on Indian Stock Exchnage, with ichimoku” style=”padding-bottom: 0px !important; background-image: url(data:image/gif;base64,R0lGODlhBAADAIABAP8NDQAAACH5BAEAAAEALAAAAAAEAAMAAAIFRB5mGQUAOw==) !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; text-decoration: none !important; white-space: nowrap !important; background-position: 50% 100%; background-repeat: repeat no-repeat !important; “>ichimoku Indicator.

 With Ichimoku indicator, the reading of chart becomes so easy, that one can easily take buy, profit booking / sell signal, short selling signal – almost all signals.

On 29-Aug-2011, the stock price CLOSES above kumo atRs.48.20, thus giving bullish breakup and buy signal. From there, it started its upward journey and touched the high of aroundRs.82.

Then on 17-Nov-2011, it closed below kijun-sen line, thus giving signal to book your profits and exit from stock at 71.95.

And finally on 22-Nov-2011, it closed below kumo @44.40, thus giving bearish breakdown signal and opportunity to do short selling in this stock.

​Avoid this stock now as it will surely move more down from here.

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