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Showing posts from March, 2012

Exit Tata Motors | Technical Chart | 21-Mar-2012

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

In the last trading session, Tata Motors stock price closed below kijun-sen line @271.40. This is the first signal of its weakness and one should book profits in this stock. On the downside, 263 is the immediate target. On weekly chart, target is 220.40.
Buy again this ONLY when closes above kijun-sen line and not before that.

Reliance Industries is in Downtrend | Technical Chart | 21-Mar-2012

Below is the technical chart of Reliance Industries, listed on Indian stock exchange, using Ichimoku indicator.


Price is trading below kumo, Tenkan Sen / Kijun sen crossed already taken place, Chikou-span (CS) line is trading inside kumo. All these factors clearly indicates that one should avoid this stock at this stage. There is not even a single positive factor for this stock. If chikou-span line closes below kumo i.e. 739, we might see free fall of this stock. On the upper side, the main resistance is at 776.

State Bank of India (SBI) Technical Chart | 13-Mar-2012

Below is the technical chart of State Bank of India (SBI), listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator. For better results, I've used weekly time frame.




The price is trading inside kumo, which is no trade zone. On the upper side, chikou-span line will face resistance at kijun-sen line @2335.7. But the main point here is flat kijun-sen line @2023.70. Not only on this chart, but many charts on Sensex are showing the same flat lines. Now, does that mean that market is planning for 10% correction? Who knows the answer? But time is good to book profits. 
If you're a mutual fund investor, continue with your SIP.

Nifty Technical charts | 07-Mar-2012

Below is the technical chart of Nifty, using Doda-Donchian indicator and Ichimoku kinko hyo indicator.










Nifty is trading inside kumo and very crucial levels. If it closes below kumo, we'll see fresh short selling in the market. So, watch the level of 5186 very carefully.

Sell Reliance Industries | 07-Mar-2012

Below is the technical chart of Reliance Industries Ltd., using Ichimoku and Doda-Donchian indicator.


The price of Reliance Industries Ltd. has already closed below kumo @782. This is the signal of short selling here. Make the stop loss of 792. But take fresh long position only above kumo viz. 811.

Gold Technical Chart | 07-Mar-2012

Below is the technical chart of Gold, on weekly time frame, using Doda-Donchian and ichimoku indicator.

In last few days, we've seen many whip-saws in Gold price movement. That's why I've chosen weekly timeframe to analyze technical chart of Gold.
On weekly chart, Gold is trading near its first support level viz. 1656.33. Also, you must note here is that Gold is trading INSIDE kumo, which is no trade zone. On the downside, it must break the levels of 1614.14 to see short selling in Gold. But this is a very STRONG support support of Gold as per its no. of weekly trade zone.