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Showing posts from December, 2011

EURUSD Technical Chart | 28-Dec-2011

Let's discuss the technical chart of EURUSD currency pair, using Doda-Donchian and Doda-Bollinger Bands.

Although there is a sell signal by Doda-Donchian @1.30301 as the price CLOSED below Doda-Donchian line. But Doda-Bollinger bands has not confirmed the signal yet. We've not seen good volume here. May be because of holidays season of Christmas and New year. So, I suggest to take short selling call ONLY when price closes below 1.30477.

Larsen and Toubro Ltd. Technical chart | 28-Dec-2011

Below is the technical chart of Larsen and Toubro (L&T), listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.



on 05-Aug-2011, L&T stock price gave bearish breakout @1638 as it closed below kumo. After few trading sessions, it tried to cross kumo, but faced tough resistance there and failed. From there, it started its downward journey and touched the lows of 970.50
Now also, the stock price is trading below kumo and is a weak chart. But since, the kijun-sen line is flat, there is short term trading opportunity visible in the chart here. One can buy L&T at current price for the target of 1151.30 on short term.

Jyothy Labs Ltd. Technical Chart | 28-Dec-2011

Below is the technical chart of Jyothi Labs Ltd., listed on Indian stock exchange, using ichimoku Kinko Hyo indicator.






In the last few trading sessions, Jyothi Lab stock price has been trading here and there. But in the last trading session, it managed to get support exactly on kumo. If it sustains at this level, it will start its bull run from here and below this level, it's a bear run for it. So, make a stop loss of 154. Resistance will be at 162.60 and 165.

DowJones technical chart | 28-Dec-2011

Below is the technical chart of DowJones on weekly time frame, using Ichimoku Kinko Hyo indicator.

As mentioned in my previous post about the major support level of DowJones, it got support at 11744, exactly on kijun-sen line. Now, it has crossed that level and on weekly chart, it's trading above kumo. So, the major support level is at 12212. In the next few trading session, it will take rest on this level before moving further up.

HDFC Ltd. Technical chart | 23-Dec-2011

Below is the technical chart of HDFC Ltd., listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.




On a weekly chart, yesterday price touched kumo, which is the beginning of the high resistance area for this stock. Chikou-Span (CS) line is also inside kumo now. So, there is no hurry to buy this stock. Let the stock cross kumo and then that will be the right time to buy this stock, even for long term. But not before that. Infact, use this rally to exit from this stock and re-enter at the levels of 719.

Titan Industries Ltd. | 23-Dec-2011

Here is a technical chart of Titan Industries Ltd., listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.






Titan industries Ltd. stock has given some rally in last 1 week time. But on weekly chart, it is about to enter high resistance area of Kumo. This range is from 178-204. Chikou-Span (CS) line is also touching kumo. I suggest to buy this stock ONLY when it closes above 204. 189 will be the immediate resistance now.

Kirloskar Bros Invest Ltd. (KBIL) Technical Chart | 23-Dec-2011

Below is the technical chart of Kirloskar Bros Invest Ltd., using ichimoku Kinko Hyo indicator.





Yesterday, this stock price closed above kumo @703.85. Chikou-Span (CS) line also closed above kumo. So, it clearly gave bullish breakout signal. One can buy this stock now with the stop loss of 644 for the target of 801 in near term.

Shaw Group Technical chart | NYSE | 22-Dec-2011

Here is a technical chart of Shaw Group, stock listed on NYSE, with Ichimoku kinko hyo indicator.






The stock closed above kumo in the last trading session giving bullish breakout. One can still buy this stock as it will run more from here. 25.82 is the immediate support level and below that is 23.02. Resistance will be at 34.14 - 34.75

DowJones Technical chart | 22-Dec-2011

Below is the technical chart of DowJones using ichimoku kino kuo indicator on weekly time frame.

On a weekly chart, DowJones is trading inside kumo which is a no trade zone. It's better to sit on cash and wait for the right direction at this moment. On the upper side, it needs to close above kumo on weekly time frame to begin bull run. This resistance is at 12264. And on the downside, it will find support at kijun-sen line and then on kumo which are 11578 and 11400 respectively. So, take your positions accordingly.

Suzlon Energy Ltd. Technical Chart | 22-Dec-2011

Below is the technical chart of Suzlon Energy, listed on Indian stock market, with ichimoku Kinko Hyo indicator.


After giving the bearish breakout on 08-Aug-2011 @45.25, it is trading below kumo in southward direction. Yesterday, it closed at 17.90. Still, it is not the right time to invest in this stock. Wait for the price closing at least above kijun-sen line (blue line market above) for high-risk investors i.e. 25.46. To be more safe, wait for its closing above kumo i.e. above 29.38. Below these levels, it's a sell on every rise and do short selling.

Renuka Sugars Technical chart | 22-Dec-2011

Here is a technical chart of Renuka Sugars Ltd., listed on Indian stock exchange, with ichimoku kinko hyo indicator.







This chart is also in downtrend. Leave kumo, it tried to cross kijun-sen line several times, but faced string resistance there. Kijun-sen line is blue line in the above chart. So, do not make hurry to buy the stock even at these levels. Wait for it closing above kijun-sen line to buy it  i.e. above 50. Next resistance will be at 70-82.

Sesa Goa Ltd. Technical chart | 22-Dec-2011

Let us discuss the technical chart of Sesa Goa, listed on Indian stock exchange, with Ichimoku Kinko Hyo indicator.








The stock price of Sesa Goa is in clear downtrend as visible in the above chart. The interesting point here is that it tried to cross kumo several times and it failed. Kumo always acts as strong resistance for any stock. Right now also, it is trading below kumo. So, I suggest NOT to buy it at current levels. Wait for it to close above kumo i.e. above 197.

EURUSD Technical Chart | 22-Dec-2011

Below is the technical chart of EURUSD with Ichimoku kinko hyo indicator on H4 time frame.

This currency pair is still trading below kumo. So, no hurry to take any buy signal even from your favourite indicator like Doda-Donchian or Doda-Bollinger Bands. Take long position ONLY above kumo as it is a strong resistance area. And below kumo, do not miss any short signal call.
1.3202 is the strong resistance on upside and on downside, I see support at 1.29899.

EURUSD Technical chart | 19-Dec-2011

Below is the technical chart of EURUSD using Doda-Donchian and Doda-Bollinger Bands.

The price is still trading below all the indicators - Doda-Donchian, Doda-Bollinger Bands, Kumo of Ichimoku etc., which clearly shows weakness in chart. Some small pull back is possible, but use that opportunity to further add your shorts. Avoid any long signal, if any. Buy signal is far away from here. Near term target is 1.29504

Idea Cellular Ltd. Technical chart | 19-Dec-2011

Below is the technical chart of Idea Cellular Ltd., listed on Indian stock exchnage, using ichimoku Kinko Hyo indicator.




The price, although trading above kumo, has closed below kijun-sen line @86.35. This signal is to book profits in Idea Cellular and sit on cash. Take long position ONLY when it closes above 89.

Tata Consultancy Services (TCS) Technical Chart | 19-Dec-2011

Below is the technical chart of Tata Consultancy Services (TCS), listed on Indian stock exchange, using Cihimoku Kinko Hyo indicator.







The price is trading above kumo on weekly chart, so one can surely say that the chart is strong and is in bull run. The only problem here is that on weekly chart, kijun-sen line is flat. 
Whenever the kijun-sen line is flat, it will attract the price.
So, in coming days, the price of TCS can kiss the level of 1053.30. Watch this level carefully and take your positions accordingly.

JSW Steel Ltd. Technical chart | 19-Dec-2011

Let us see the technical chart of JSW Steel, listed on Indian stock exchange, using ichimoku kinko hyo indicator.







The stock price clearly indicated bearish breakout on 28-Jan-2011, when it closed below kumo @880.60. That was a strong sell signal as that happens on weekly chart itself. After that, it started its downward journey and in the last session, it closed at 509.50. The price is still trading below kumo, below kijun-sen line and Chikou-Span (CS) line is still below kumo. Not even a single sign of positive in this stock.
I don't know, then why "so-called" experts are recommending to buy this stock at these levels. 
One can buy this stock when it closes above kijun-sen level viz. at 696.70 and not before that.

AUDUSD Technical chart | 15-Dec-2011

Below is the technical chart of AUDUSD currency pair, with Doda-Donchian and Doda-Bollinger Bands indicator.

After getting the sell signals from both the indicators, it started its downward journey. At the time of writing this post, it has already given a profit of 293 pips (and counting). Now, it will get support at 0.9775, which is its monthly support level. I suggest to book your profits at that stage and sit on cash.

ONGC Techncial chart | 15-Dec-2011

Below is the technical chart of ONGC Ltd, a bluechip company, listed on Indian stock exchange. I've used here Ichimoku Kinko Hyo indicator.








ONGC price is still trading below kumo. Chikou-Span (CS) line is also trading below kumo. Not even a single positive sign in this stock at this moment. On weekly time frame, the major resistance is at 270. Thereafter at 285 and 308. If you're a short term trader, buy above 270 and sell at 285. But if you're an investor, wait for its closing above 308.

Coal India Ltd. Technical chart | 15-Dec-2011

Let us analyze the technical chart of Coal India Ltd., listed on Indian stock exchange, with ichimoku Kinko Hyo indicator.









Like my previous post on ONGC, Coal India is also trading below kumo. Not a right time to invest in this stock as there is more room for downside here. It will give bullish breakout only above 352. Below it's a weak chart.

ProSharesUltraShortGold Technical chart | NYSE | 15-Dec-2011

Let us analyze the technical chart of ProSharesUltraShortGold listed on NYSE with ichimoku indicator.

It gave bullish breakout @18.4 on 14-Dec-2011 as the price and chikou-span closed above kumo. It's a clear buy signal. On a weekly chart, resistance is at 19.53, around which it is trading. So, watch this level carefully. One can take it as a stop-loss also. Crossing this, target is 25.56 in medium term.

DowJones Technical chart | 14-Dec-2011

Let us analyze the technical chart of DowJones Industrial using Ichimoku indicator. I've used below weekly time frame to get better picture of support and resistance levels.

DowJones is not able to cross the levels of 12271 which is the resistance as defined by kumo. On the downside, the immediate support level is at 11577, which is kijun-sen level on weekly chart. Further downside, the support is at 11396. Make your last stop-loss at this level. After that, it's bearish mode.

Hero Motocorp Technical chart | 14-Dec-2011

Below is the technical chart of Hero Motocorp Ltd., listed on Indian stock exchange, with ichimoku Kinko Hyo indicator.









The chart is still intact and in bullish mode. The whole market is in downtrend but this chart managed itself to hold the bullish mode. But at this stage, the price is trading near very crucial level viz. at 1980.60. If it breaks this level, it can go down to the level of 1730. So, make your stop-loss accordingly.

Reliance Industries Technical chart | 14-Dec-2011

Let us discuss the technical chart of Reliance industries Ltd., listed on Indian stock exchange, with Ichimoku kinko hyo indicator.








Ever since, the stock price closed below kumo on 29-Apr-2011 @970 on weekly chart, the price is moving downward. Few short bounce back and then failed. Different experts via different media are recommending to buy this share at different levels. But if you look at the chat, the price is still trading below kumo. So, where is the question of buying? The chart is weak and it is in bearish mode.
The immediate resistance is at 808.10 and then at 932.60 and 976. Only closing above these levels is a buy signal for this stock and not before that.

EURUSD Technical chart | 14-Dec-2011

Below is the updated technical chart of EURUSD with Doda-Donahin and Doda-Bollinger Bands indicators.


After getting sell signals from our indicators as mentioned above, EURYSD started its downward journey. But it is trading now at very major support level viz. @1.30987. This level has been calculated by various support and resistance levels, Fibonacci ratios etc. on weekly chart. The currency pair must bounce back from these levels in short term. If it breaks this level, then next support level is at 1.28648.

Steel Authority of India (SAIL) Technical chart | 13-Dec-2011

Below is the technical chart of Steel Authority of India (SAIL), listed on Indian stock exchange, using ichimoku indicator.

In the beginning of Nov.2010, Ichimoku gave sell signal on SAIL at around 196 levels. From there, it started its downward journey to touch 77.60 yesterday. The price is still trading below kumo; so is chikou-span. There is not even a single positive sign to buy this stock at current levels. Infact, it will go more downward from here. The major resistance is at 112 and then at 152. Take long position ONLY when it closes above 112.

NZDUSD Technical chart | 13-Dec-2011

Let us see the technical chart of NZDUSD using Doda-Donchian and Doda-Bollinger Bands.

Although both Doda-Donchian and Doda-Bollinger Bands has given sell signal on this currency pair @0.77266,  it is trading near its strong support zone. I would suggest to take short position after it crosses this support zone. The zone area is from 0.76448 to 0.7605. Do not take any position now.

USDCHF technical chart | 13-Dec-2011

Below is the technical chart of USDCHF using Doda-Donchian and Doda-Bollinger Bands.

The Buy signal in this currency pair was given by Doda-Donchian and Doda-Bollinger Bands @0.92594. Using Ichimoku, the price is trading above kumo. So, this currency pair can move further up from these levels. 0.9387 is the immediate resistance and on the downside 0.93337 is the support level. Watch these levels carefully.

USDCAD Technical Chart | 13-Dec-2011

Below is the technical chart of USDCAD with Doda-Doanchin and Doda-Bollinger Bands indicator.

As expected, Doda-Donchian gave buy signal on this currency pair @1.02171. Doda-Bollinger Bands also confirmed the same signal. But if you look at the chart using ichimoku indicator, the price is trading inside kumo and one of the strong resistance level. The range is from 1.02706 to 1.0302. Once it manages to close above these figures, it will rise with great speed. The target will be 1.03756 and then 1.0475. On the downside, support is at 1.0224

EURUSD Technical Chart | 13-Dec-2011

Let us see the chart of EURUSD currency pair with Doda-Donchian and Doda-Bollinger bands indicator.

Doda-Donchian gave sell signal on EURUSD @1.33547. The same was already confirmed by Doda-Bollinger Bands. So, it started moving downward. On the upper side, the strong resistance will be at 1.34057 and on the downside, support will be at 1.3148, 1.30987. Watch these support levels carefully. There SHOULD be some bounce back after kissing these levels.

Nifty Technical Chart | 10-Dec-2011

Let us analyze the technical chart of Nifty with ichimoku Kinko Hyo indicator.




In this week, Nifty tried to cross kumo, but failed; leading to correction. So, Kumo is the major resistance at this point for nifty, which is in the range of 5060 to 5143. Take long positions in Nifty ONLY above these levels. Below these levels, there is much room for further correction.

ITC Technical chart | 10-Dec-2011

Below is the technical chart of ITC Ltd., listed on Indian stock exchnage, with ichimoku Kinko Hyo indicator.



ITC is trading below kumo, so the chart itself is weak. The only positive point here is that Chikou-Span (CS) line is still inside kumo. So, the major support level comes out to be at 1974.30. If ITC breaks this level on closing basis, it will move further down to the next support level of 189.30.

Forex currency pair trading signals | 09-Dec-2011

Today, I'm posting the list of some of popular currency pairs trading strategy on a single post. Do provide your feedback.

NZDUSD Technical chart | 08-Dec-2011

Let's us discuss the technical chart of NZDUSD currency pair, using Doda-Donchian indicator.

NZDUSD has given bullish signal @0.77920 on 07-Dec-2011. One can still buy this currency pair with a stop loss of 0.77087.

GBPUSD Technical Charts | 08-Dec-2011

Below is the technical chart of GBPUSD with Doda-Donchian indicator.

Whatever signal given by Doda-Donchian, Doda-Bollinger bands or any other indicator, do not take any long position in this currency pair. The reason is that it is trading near high resistance zone and chances are, you'll regret. The resistance zone is from 1.57220 to 1.5757. Take long position if it closes above these values. Below these figures, one can take short selling calls, as when signal given by Doda-Donchian.

EURUSD Technical chart | 07-Dec-2011

Below is the technical chart of EURUSD discussed, with Doda-Donchian indicator.

From the last few trading sessions, EURUSD is in range bound. Generally, all indicators fail in range-bound movements. But broadly, in EURUSD currency pair, the chart is still weak. It needs to CLOSE above the levels of 1.35315 and 1.3590. This is the high resistance zone for this currency pair. If it CLOSES above these levels, take long position. And below these levels, take short position, as and when you get signal through Doda-donchian. Simple strategy!

Wells Fargo & Co. Technical chart | NYSE | 07-Dec-2011

Below is the technical chart of Wells Fargo & Co., listed on NYSE, with Ichimoku Kinko Hyo indicator.

The stock has given bullish breakout @25.86 on 30-Nov-2011. The price is still trading above kumo, so is the Chikou-Span (CS). Thus, the chart is in strong bullish mode and one can still buy this stock for the target of 28.44. The immediate support level is 26.11. Watch this level carefully.

EURGBP Technical chart | 07-Dec-2011

Below is the technical chart of EURGBP currency pair with Doda-Donchian indicator on H4 time frame.

The outlook of this currency pair is that it is trading near high resistance zone. Do, do not take any long position even if it is confirmed by Doda-Donchian and Doda-Bollinger bands. Take long position ONLY when it closes above 0.86032 and then @0.8621. Below these levels, the chart is in bearish mode and one should take only short positions as and when directed by Doda-Donchian signals.

Cipla Technical Chart | 07-Dec-2011

Here is a technical chart of Cipla, listed on Indian stock exchange, with Ichimoku indicator.




On 15-Nov-2011, Cipla gave bullish breakout @306.85 as it closed above kumo. It touched the high of 334.05 on 01-Dec-2011. 
But after that Kijun-sen line has become flat. Otherwise also, 333-335 is a tough resistance zone for Cipla.
So, if you've taken long position in Cipla, it's better to book your profits now and sit on cash. Take long position only when it CLOSES above 335 on weekly base.

Siemens Ltd. Technical chart | 07-Dec-2011

Siemens technical chart, listed on Indian stock exchange, with ichimoku Kinko Hyo indicator, has been explained below.





The price is trading below kumo, so it is in bearish mode. One should not buy this stock for investment. However, kijun-sen line is flat. So in the short term, the price can touch 763.90. The next level is 800. Closing above 826 will start its bull run.