Thursday, November 24, 2011

Rise and Fall of D B realty Ltd.| Technical Chart | 24-Nov-2011

 



Below is the technical chart of D B Realty Ltd, listed on Indian stock exchange. The stock is been news for a while because of charges in 2G scam. I've used here ichimoku Kinko Hyo indicator.



 


On 01-Aug-2011, it CLOSED down below kumo @74.65; thus giving STRONG bearish breakdown. That was good opportunity to exit from this stock and do short selling. Then, from 03-Oct-2011, after touching the lows of 45.40, it started moving upward, but faced STRONG resistance on kumo. It started its downward journey again and found support again on kumo


​Yesterday, it moved 20% up@64.50. But Chikou-Span (CS) is still BELOW kumo. So, one should NOT take any long position here till both - Chikou Span (CS) and price CLOSED above kumo. It's better to avoid this stock till then.


Resistance: 67.50


Support: 45.40


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