by MalkansView on July 19, 2011
CMP – 506
Weekly equity chart of Jet Airways is given below. Note the following:
Price – Price closed above 500 with a big white candlestick last week. This level had been acting as resistance since the past 6 months.
Pattern - Price has formed double bottom at the same level as shown in the chart.
Volume – Above average volumes have been recorded in last few weeks during the rally.
Bollinger Bands – 1) Price formed bottom 1 outside the band and bottom 2 inside the band followed by move above the centre band in last two weeks.
2) Price has started tagging the upper band which needs to have a follow through next week to confirm strength
Strategy – Buy at CMP with a stop of 480 for targets of 540 and 575
Jet Airways Equity – Weekly
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by MalkansView on May 14, 2011
CMP – 1067
Observe below the daily chart (futures) of McDowell & Co Limited appended below. Observe the following:
Price – Price has breached the downward sloping resistance trendline shown in the chart below.
Volume – Above average volumes were witnessed while the stock was in a sideways movement during the last three months. High volume without price damage indicates accumulation.
Bollinger Bands– Bollinger Bands have formed a squeeze. If McDowell trades higher in the next few trading sessions, prices will start walking the upper Band.
RSI – After breaching 40 levels in RSI in previous declines, the recent decline has been unable to take the RSI below 40, thus indicating that the stock no longer remains in the bearish range.
Strategy – One can go long in McDowell Ltd at cmp with a stop below 1030 for targets of 1110 and 1150.
McDowell & Co Ltd futures – Daily
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by MalkansView on May 7, 2011
CMP – 2059
Weekly chart of BHEL futures is appended below. Observe the following:
Price – Last week the stock witnessed a white candlestick after two consecutive bearish candlesticks in previous weeks.
Trendlines- Price has bounced from a confluence of support at around 1980 levels, formed by two trendlines – (a) downward-sloping resistance trendline (in red) and (b) upward-sloping support trendline (in blue).
Retracement –The level of 1980 also happens to be 78.6% retracement of the upswing shown in the chart.
RSI After breaching 40 levels in RSI in previous declines, the current decline has been unable to take the RSI below 40, thus indicating that the stock no longer remains in the bearish range. [click to continue…]
by MalkansView on May 2, 2011
CMP – 466.60
Daily chart of Sun Pharmaceuticals Industries futures is appended below. Observe the following:
Price – Price has breached the downward sloping resistance trendline shown in the chart with a big white candlestick in the last trading session.
Volumes – Above average volumes were recorded on the breakout.
Retracement –Price has breached 61.8% retracement of the downswing shown in the chart.
RSI RSI has moved above 60 for the first time since the downtrend which commenced in January this year.
Strategy – Buy Sun Pharma at cmp as well as on dips to 450 with a stop below 445 for targets of 480 and 495.
Sun Pharma futures – Daily
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