Ingersoll Rand Breaches Support Trendline

Stock has walked out of its two month trend support.  It is walking sideways – showing undecidedness.  

The trading volume is very low as well.  

The stochastics is trading below midzone, hence there might be some purchasing soon.  The last formation is a weak hammer.  The stock is trying to gain support but facing resistance at the same time.  Have to wait and watch.

Indraprastha Gas breaches 3-month support line

Market has broken its 3 month trendline in September , is now sideways.

Morning star pattern has formed recently, and stochastics are also medium.  The stock could rise again and continue upward movement.

IDBI Repeats Doji Formation

The stock has remained overbought for entire September which shows continued uptrend.  Today’s candle is a doji which shows the market is facing selling pressure at its current point.  Same happened 3 days earlier but the market has risen, so it’s uncertain what’ll happen.  No specific negative formations visible though to suggest any steep negative change, however the steep uprise could face a curb soon.

Airtel in Price Channel

The candlesticks don’t suggest anything specific right now but the stock is moving in a price channel. If it breaks below this price channel, then we should be on alert and watch candlesticks in coming days for guidelines.

Chart Source: www.moneycontrol.com