Pattern, Price and Time: Using Gann Theory in Technical Analysis
State Bank of India SBI has done nothing from past 10 trading sessions,Stock has become rangebound with a narrow trading range from 2780-2730. SBI should explode either on upside or downside before expiry As per my analysis SBI should go and touch its 50 DMA on upside before expiry as Short covering if it comes … Read more
Nifty Daily Chart Nifty is forming ascending triangle on daily chart which is a bullish breakout pattern. It is moving near to upper trend line of the triangle and expecting a breakout on upside in near term. Resistance at 6,025 (50 DMA) while Support stand at 5920 (20 DMA). On upside if level of 6,040 … Read more
ABB Ltd ABB has formed a base around 750 levels and facing resistance at down trending channel at 810. MACD is showing positive divergence. Buy above 810 Tgt 815,827 and 845 ABG Shipyard ABG Shipyard is forming a ascending triangle formation with rising trendline from bottom and a vertical trend line joining tops. Also the … Read more
Bank Nifty has been under performing Nifty from past few trading sessions and if Nifty wants to get out of the range of 6070 than we will require the help of Bank Nifty. As financial form the major component of Nifty we require there support for getting out of range. Bank Nifty Daily Chart Bank … Read more
Nifty Long Call Initiated by Nifty Trading System [Click on Link to Know more about Nifty Trading System] Nifty spot has crossed 5 EMA over 20 SMA on upside with MACD also showing positive divergence. As stated in Post we can initiate longs in Nifty with SL of 5855 Nifty Daily Chart Nifty on Daily … Read more
Nifty Nifty is posting a rally from the low of 5721 Will Nifty Bounce as I showed technically that we did not break the low and positive divergence on RSI played there part fueled by very good IIP numbers. Market always makes a move that causes maximum pain to maximum people and consensus was on … Read more
Educomp Solution Educomp Solution looks good as it is extremly oversold on daily charts and near its support area of rs 502. RSI is showing positive Divergence. Buy above 525 Tgt 531,540 Sl 516 Reliance Industries Reliance Charts in Previous Post [Click on post to see] Reliance Broke its 200 DMA @1036 today which is … Read more
Market is a place where all kind of rumors born in pessimism and some quarter take advantage in hammering the stock in the name of somebody else for personal gains. If the valuation is right even if somebody is involved the stock will find support See that you do not enter at wrong valuations. Hanung … Read more
Overall during the week ended 10th December 2010, the market witnessed a steep slide, with small-cap and mid-cap stocks taking a beating on concerns over regulatory crackdown on companies indulging in price rigging and an ongoing investigation into telecom corruption scandal. We anticipated both downside and upside in below posts Nifty Ready for Bounce Nifty … Read more
Monthly Chart 5 Monthly EMA@5750 if broken we are heading towards 5500 Nifty Weekly Analysis given on 6 dec[Click on Link and Charts to enlarge] Weekly Chart Near trendline support and there is lots of panic in market am advising all my readers to use this oppurtunity to deploy cash because bounceback will be fast … Read more