Tata Communications: Looks Like an Accumulation Phase

TATA COMMUNICATIONS Daily NSE Stock Price Technical Analysis:


The price remained range-bound today and closed without much difference.  Close & CMP: 250.65

Market Outlook:

• It seems like the worse is over for Tata Communications, which has been falling rapidly since mid-October.
• The seems to be increased interest in accumulating the share at its current price level.
• A rally seems to be in the offing, feel free to go long on price rise of this stock, with targets at 270 and 280.  But there is a chance this stock might cross 300 as well.

Technical Indicators:

• The price is consolidating sideways after a long fall.
• There has been very high interest in the share on Friday.
• Inspite of high trading, the stock value hasn't budged throughout the day, which is showing mixed signs of optimism and skepticism... in other words, an indecisive market with respect to Tata Communications.  
• The bulls seem to be finally wresting control from the bears, and the price could head upwards.

TATA COMMUNICATIONS Daily NSE Stock Price Technical Analysis

Atlas Cycle: Zooming, but will it zoom through resistance?

ATLAS CYCLES Daily NSE Stock Chart Technical Analysis:

Atlas Cycles witnessed a super single-day rise on Friday with humongous trading volume.  

Open:  216   Intraday High:  256  Close & CMP: 249

Market Outlook:

• No.1 Question in people's mind is - Whether one should get into this stock because the price is zooming upwards?
• The answer to this question lies in how it behaves on Monday and Tuesday.
• If the stock closes above 256, then it might make sense to take a long position.  
• So, wait until 256+ before buying

Technical Indicators:

• The trading volume saw a massive single day jump, so did the price.
• Inspite of this rise, the price has remained below resistance.  In fact, it started falling the moment it hit the resistance, and closing price was below the long-term resistance line.  This is showing that resistance is quite strong.
• So, I would wait for a day or two to see if the resistance at 256 is authoritatively breached.  Until then, wait n watch.

ATLAS CYCLES Daily NSE Stock Chart Technical Analysis

Ashok Leyland: Possibility of Rise

ASHOK LEYLAND Daily NSE Stock Chart Technical Analysis:

Ashok Leyland went gap down on Friday.  Close & CMP: 62.1

Market Outlook:

• There was a gap down opening and the stock closed lower as well.  But seems like there is a chance that the price will now start rising again, or atleast make a short term upward correction.
• If you have short position on this stock, ensure that you are ready for liquidation before your stop gets hit.
• Good chance to take a long position if the price indeed goes up.

Technical Indicators:

• The price went gap down on Friday with good quantity of trading.  
• The MACD shows that stock is deeply underbought.
• The gap down might denote exhaustion of the falling price and possibility of a rise.  However, this can only be confirmed in the next 2-3 trading sessions.

All Previous Posts About Ashok Leyland

ASHOK LEYLAND Daily NSE Stock Chart Technical Analysis

3i Infotech Hits The Double Top Barrier

3i INFOTECH Daily NSE Stock Chart Technical Analysis:


3i Infotech opened gap down and people showed little interest in trading it at the current price level.

Market Outlook:

• The price is trying to resist further fall.  But how much it succeeds, we can only find out next week.  For now, no trading signals on this one, wait for Monday trading scenario before getting into 3i.

Technical Indicators:

• The price has made a Double Top near 59.50, a level that co-incides with the 38.2% Fibonacci Retracement level.  This makes it a strong resistance point an indicator that the price may fall further.
• The stock is majorly over-sold at the current level and momentum is headed downward.
• The only saving grace is the Doji candlestick which has formed on Friday, this is showing that the market is resisting a further fall and might try to climb on Monday.  However, the chances of this happening do not look very hunky-dory.
• As for now don't get into 3i Infotech, wait for signals.

All Previous Blog Posts About 3i Infotech


3i INFOTECH Daily NSE Stock Chart Technical Analysis