Indiabulls Daily & Weekly Outlook

INDIABULLS Daily NSE Stock Chart Technical Analysis

Indiabulls stock price on NSE fell today after a heightened interest yesterday.

The price closed at 223.2 after opening at 230.85.

Market Outlook:  The price could fall further tomorrow.  The line of support is around 220 levels and an intraday high of 230 is possible.

This week could end around 204.  By next week, the price could rise again, but this is only an assumption and we will wait for end of week indicators.

Technical Indicators:

Price has taken support near the 78.6% level.  (Fibonacci lines not shown on this chart)

Rs 221 is also a price support level from the past, as is visible on the chart above.  The price will get good support right now and this will slow down the speed of today's fall in the coming days of the week.

(Analyzed for Jojo, Kochi)

Escorts Price Channels

ESCORTS Daily NSE Stock Chart Technical Analysis

Escorts fell today and closed at 224.75 after reaching an intraday low which was close to yesterday's opening price.

Market Outlook:  On 3rd the stock should close below today's close but not below today's intraday high, i.e. the price should close between 225 and 221.

Technical Indicators:

The price is finding support at the moving averages, both short and long term.

Price channels within price channels have formed which are acting as points of resistance and support, but the stock is in an overall uptrend.

Unitech Support at 100 day moving average

UNITECH Daily NSE Stock Chart Technical Analysis

The price rushed down today and closed at 89.25 after opening at 89.30.

Market Outlook:  The price should not fall much farther below today's intraday low of 85.2.  The intraday high on Wednesday should be around 87.6

Technical Indicators:

The price has found support at its 100 day moving average and resistance at its 20 day moving average.

ICICI Bank Faces Resistance at 1241

ICICI Bank Daily NSE Stock Chart Technical Analysis:

ICICI walked sideways today after a big gap-up yesterday.  

The market made a double top at today's high near 1246.7.  This is also the same level where the stock faced consolidation and made double tops just before the 2008 recession began.

Market Outlook:  Breaking above 1250 will be a landmark for ICICI Bank, there is high resistance to breaking this level.  

Tomorrow will be another sideways day, unless there is some sudden effect of the bank repo rate announcement by the RBI, in which case the rate will fall and find support at between 1170 and 1185.

If the price does not fall tomorrow, it'll fall the day after.

Technical Indicators:

Spinning Top candlestick portrays indecisiveness in the market.  People are waiting for something to happen.

The price is sailing well into the oversold levels.

Airtel U-Turn Downwards

AIRTEL Daily NSE Stock Chart Technical Analysis:


As analyzed in yesterday's post, Airtel price on NSE fell back today after a gap-up yesterday.  The market returned to yesterday's opening price.

The market opened at 335.3 and closed at 329.25.

Market Outlook:  Tomorrow the stock will fall further, though probably not with the same intensity as today.  

Technical indicators:
The 20 day moving average has crossed the 50 day moving average.  That's sad.
A Counterattack Candlestick was created.  That's not too happy either.

NIFTY Sideways Today

S&P CNX NIFTY Daily Stock Chart Technical Analysis:


After a big gap up yesterday, NIFTY could not rise further today as analyzed in my yesterday's post.  


The market closed at 6119 after falling to 6094.4.


Market Outlook:  No big movement is visible tomorrow based on today's chart.  The market is likely to take support near 6094 like it did today.  Though, there could be some weird movement in the index due to raising of repo rate by the RBI.  


Technical Indicators:


The market has taken support at Fibonacci 78.6% after jumping out of its diagonal resistance.