Talwalkar Fitness: Rising from Support Line

TALWALKAR FITNESS Weekly NSE Stock Chart Technical Analysis
(This is a weekly chart, hence each bar/candlestick represents one week of activity)


Talwalkar Fitness (IPO) began trading on 10th May 2010.  Since then the stock price has climbed steadily within an upward price channel.

Market Outlook:

• The price is headed upwards
• Target1: 290  Target 2: 325  SL: 256
• The only point of concern is that the week has ended with heavy selling pressure.  This means that there could be initial fall in price when the markets open on Jan 3rd.  So use good judgement before making the actual trade.

Technical Indicators:

• The price is moving within a price channel, between its lines of support and resistance, as visible on the chart.
• There is strong support at 256 and 218.  Coincidently, there are the exact points where the price touches the support trendline as well.  This shows a very co-ordinated price movement, which makes it easier to trade using technical charts.

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TALWALKAR FITNESS Weekly NSE Stock Chart Technical Analysis