Seamec: Still Underwater

SEAMEC Daily NSE Stock Chart Technical Analysis:

Seamec again fell today and remained below its diagonal resistance.

Close & CMP: 100.4

Market Outlook:

The stock price is below its diagonal resistance but is resting on its support @ 100.  If 100 is broken we could see another big fall.  This looks like a sideways price trend is emerging.

Technical Indicators:

Some inverted hammers in the past few days bounced off below the resistance, showing the strength of the diagonal resistance.  

Today the price stopped exactly at its support @ 100.

So, there is a battle between the bulls and the bears and there is chance that this stock might remain sideways in March.

All previous posts related to Seamec

SEAMEC Daily NSE Stock Chart Technical Analysis

NIFTY on Budget Day

NIFTY Daily Chart Technical Analysis:


NIFTY behaved very erratic on budget day, and after an initial spike, got dumped and returned to close near its open.

Close & CMP: 5333.25

Market Outlook:

• The index showed no interest in rising back and all the indicators are still pointed downwards.
• Might have a slow day tomorrow considering the large movement today.  Also, investors will remain confused over the actual implications of the budget and so might move in either direction.
• निफ्टी आज शुरुआत में उछला लेकिन दिन के अंत में फिर गिर गया.  कल थोडा धीरा दिन जाने की सम्भावना है.  आज का उतार चढाव यह बता रहा है की मार्केट अभी ऊपर जाने के मूड में नहीं लगता है.  

Technical Indicators

• A long legged doji was formed and the day closed with heavy bearish control.
• The market briefly rose above its previous support at 5415 but then fall back again.
• Current support is at 5227.

NIFTY Daily Chart Technical Analysis

NIFTY Slides Below Support

NIFTY Daily Chart Technical Analysis:

NIFTY had a high-speed slide today and broke below its previous support at 5415.

Close & CMP: 5262

Market Outlook:

• The index has fallen with high power today.  It seems like this could fall even further.  Buy any stock with due caution. 
• Support can be expected at 5227 and then at 5110. 
• निफ्टी आज फिर से गिरा है.  और लग नहीं रहा है की वापिस ऊपर जाने का इसका अभी तुरंत कोई इशारा हो.  संभल के खरीदना. 

Technical Indicators:

• A heavily traded day that ended in a bearish Marabozu, and also created an island reversal type of formation. 
• The momentum has just started going downwards and has some distance to travel before it reaches the overbought levels.  
• All this put together is suggesting more fall; maybe its the anticipation to the upcoming budget.

All posts related to NIFTY

NIFTY Daily Chart Technical Analysis

Reliance Communications: Important Triangle Tomorrow

RELIANCE COMM Daily NSE Stock Chart Technical Analysis:

Reliance Communications made a slight movement today, but nothing worth noticing.

Close & CMP: 95.05

Market Outlook:

• Buy if it closes above 96 or crosses 96 intraday with good volume on 23 Feb.  
• The level at 91 is serving as support.  

Technical Indicators:

• An inverted hammer-like formation occurred today.  Tomorrow the triangle gets completed so the stock should make some interesting movement.
• There is a sideways movement after a big fall (triggered by the probe news on ADAG).  
• There is also a steep diagonal resistance.  Breaking this resistance with good volume might trigger this stock price upwards and make it buy-worthy.  
• Going below 90 is further bad luck for RComm investors. 
• The way this stock has sustained the level at 90, let's hope for good news.

All posts related to Reliance Communications

RELIANCE COMM Daily NSE Stock Chart Technical Analysis

Reliance Industries: Jumps Up But Squats by Day End

RELIANCE INDUSTRIES Daily NSE Stock Chart Technical Analysis:


Reliance Industries jumped up today following the news about its tie-up with BP.   However, the price rise has failed to impress as the day ended with a negative candlestick formation.

Close & CMP: 985

Market Outlook:

• The price jumped up but then fell during the day.  Doesn't seem like the price will be able to break above the diagonal resistance.  
• Don't buy unless it comfortably goes above 1024.
• Reliance Industries आज शुरुआत में उछला पर बाद में अपने रेसिस्टांस लाइन के पास तक पहुँच कर वापिस गिर गया.  जब तक १०२४ के ऊपर नहीं जाता तब तक खरीदना नहीं चाहिए.

Technical Indicators:

• The price made a shooting star candlestick pattern with extremely high trading volume and a gap-up opening, and returned from near its long term diagonal resistance line.  Not a pretty picture!

All posts related to Reliance Industries


RELIANCE INDUSTRIES Daily NSE Stock Chart Technical Analysis

Reliance Communications: What's Next?

RELIANCE COMM Daily NSE Stock Chart Technical Analysis:

Reliance showed a fall today but overall continued the sideways movement it has displayed since the past 7 days.

Close & CMP: 93.15

Market Outlook:

• It seems like the price has found a bottom at Rs 90.  
• If 90 is broken, the next support is in the range of 81-84.
• भाव आज फिर गिरा लेकिन ९० के सुप्पोर्ट के नीचे नहीं गया.  ८ दिन से रिलायंस कोम्युनिकेशन ९० पर सुप्पोर्ट ले रहा है.  अगर इस से नीचे गया तो अगला सुप्पोर्ट ८१-८४ के बीच में मिलेगा. 

Technical Indicators:

• Heavy trading in a sideways price movement with oversold indications, and a bearish engulfing pattern today. Tweezers candlestick formations have occurred since 8 days showing the good support that Rs 90 price level is providing.  The MACD histogram has shown an upward movement in the past week, which is a positive aspect that denotes that the bulls are not totally out of power.However, there is a probability this might be breached if NIFTY continues to fall.  

All posts related to Reliance Communications

RELIANCE COMM Daily NSE Stock Chart Technical Analysis

Fedders Lloyds Corp: Falls Back Below Resistance

FEDDERS LLOYDS CORP. Daily NSE Stock Chart Technical Analysis:


FLC fell again today and closed at 77.65

Market Outlook:

• The price now seems headed downwards, should find support at 73.
• भाव फिर से गिर रहा है और रेसिस्टांस के नीचे चला गया है, अब ७३ पर सुप्पोर्ट मिलना चाहिए 

Technical Indicators:

• The price has fallen back below its diagonal resistance with a bearish engulfing candlestick pattern and the indicators are saying that it might not be possible for the price to climb above this diagonal resistance anytime soon.  Somewhere in the first week of March '11, the price will face a decision point at Rs. 74 if the price remains in the current triangular price range until then.

All posts related to Fedders Lloyds Corp


FEDDERS LLOYDS CORP. Daily NSE Stock Chart Technical Analysis

Power Grid: Continues in Price Channel

POWER GRID Daily BSE Stock Chart Technical Analyst:

Power Grid had a slight fall today, but over all has continued remaining in the range of 94-100.

Check the previous post about Power Grid, trade strategy remains the same.

POWER GRID Daily BSE Stock Chart Technical Analyst 

NIFTY: Didn't Break Resistance

NIFTY Daily Chart Technical Analysis:

NIFTY today had a fall again.  I was expecting this to happen next week but it happened a day sooner.

Close & CMP: 5459

Market Outlook:

The index reversed today after 5 days of rise.  

Technical Indicators:

The momentum showed a slow down today as compared to the previous days and a bearish engulfing candlestick pattern was formed.  Both negative signal.  But the weekly chart momentum has recently shown a rise which is a conflicting signal.  Let's wait a day or two for the final decision on which way this is headed.

All posts related to NIFTY

NIFTY Daily Chart Technical Analysis

Spice Jet: In a Price Channel

SPICE JET Daily BSE Stock Chart Technical Analysis:

Spice Jet lost some value again and lost some of the value it had gained a couple of days ago.

Close and CMP: 47.3

Market Outlook:

• The price hit its resistance at 49.50 and fell back.  As visible, the price is stuck in a price channel since 7th Feb '10 and is moving between 49.50 on the upper side and 44 on the lower side.  
• Refrain from trading as of now, until it comfortably goes above 49.50.
• Spice Jet ४९.५० और ४४ के बीच में चल रहा है.  अभी के हिसाब से ४९.५० के ऊपर ही यह शेयर लेना चाहिए. 

Technical Indicators:

• The price formed an evening star candlestick pattern today, and though the momentum has started moving up, the weekly MACD is looking negative and the trading is also lower.  Overall a bag of mixed signals with more negatives.  

All posts related to Spice Jet 

SPICE JET Daily BSE Stock Chart Technical Analysis

NIFTY: Might Hit Resistance Soon

NIFTY Daily Chart Technical Analysis:

NIFTY made a rise today, continuing a positive week for the stock market.

Close & CMP: 5546

Market Outlook:

• NIFTY might remain sideways tomorrow, and Monday-Tuesday could see a big movement in either downward or upward direction, with a higher probability of downwards.
• निफ्टी कल शांत रहना चहिये, और सोमवार या मंगलवार को गति दिखा सकता है.  ज्यादा सम्भावना है की तब फिर नीचे की और जायेगा.

Technical Indicators:

• The market showed good recovery today but the momentum is rising very fast and could soon hit upside and tumble back. 
• 5627 is the resistance and 5415 is the support for NIFTY.
• Closing above 5627 is a very positive sign.

All posts related to NIFTY

NIFTY Daily Chart Technical Analysis

BF Utilities: Bouncing Upward From Support Line

BF UTILITIES Daily NSE Stock Chart Technical Analysis:

BF Utilities showed recovery after touching its support line at 686 and another diagonal support line.

Close & CMP: 714

Market Outlook:

• 686 is the long-term support for BF Utilities, and the price has managed to remain above 686.
• Good opportunity to buy with stoploss below 646.  And a possible sell around 850-900. (If NIFTY underperforms, then sell sooner!)
• If the price falls and remains below 686 for a few sessions, it'll be a good opportunity to short.
• BF Utilities अपनी सुप्पोर्ट लाइन को छूकर वापिस ऊपर की ओर चल दिया है.  ६८६ इस शेयर का पुराना सुप्पोर्ट है.  अगर निफ्टी सही रहा तो बी ऍफ़ यूटीलीटीज़ को खरीदा जा सकता है, और ८५०-९०० के आस पास बेचा जा सकता है. पर अगर निफ्टी नीचे की तरफ घूम गयी तो जल्दी बेच देना चहिये.  और अगर ६८६ के नीचे गिरता है तो शोर्ट फ्यूचर में इन्वेस्ट किया जा सकता है.

Technical Indicators:

• The price has moved within a channel of 686-957 since a long time and the price bounced upwards after hitting its support at 686.  The trading volume is good and the momentum is also showing upwards.

All posts related to BF Utilities

BF UTILITIES Daily NSE Stock Chart Technical Analysis

Spice Jet: Showing Support at 44

SPICE JET Daily NSE Stock Chart Technical Analysis:

Spice Jet investors finally found some relief as the stock price seemed to hit bottom and started moving upwards.

Close & CMP: 46.4

Market Outlook:

• The price seems to be rising after a steep fall.  The recent fall was due to the allegation of Maran's involvement in a scam (not related to the airline industry though).
• The worst seems to be over for SpiceJet's stock, but nothing can be said yet.  I would still wait for allegations to subside to take any long term view.  
• Current support is (short below) 44 and resistance is (buy above) 49.50 with a short term exit.
• Day trader: Can be bought around 46-47.  Sell when it reaches 49.50 (if the price is moving upwards fast and goes above 49.50, you might hold on longer)

Technical Indicators: 

The price was falling consistently and formed a doji candlestick at its support @ 44 and then returned upwards with good level of market interest in the stock and strong liquidation of shorts by the bears.  Overall a recovery sign, but not whether this recovery will be long-lived.

All posts related to Spice Jet

SPICE JET Daily NSE Stock Chart Technical Analysis

BF Utilities: Sideways Movement

BF UTILITIES Daily NSE Stock Chart Technical Analysis:

BF Utilities fell again today, after hitting the short-term resistance at 900.

Close & CMP: 841.35

Market Outlook:

• Yesterday, the price had risen as an important court verdict cleared the way for a new project, but seems like today the market still chose to not respond positively.
• The stock price fell today after hitting 900, so 900 has emerged as a strong resistance for the time being.
• Can be viewed positively only if it breaks both 900 and 957.
• BF Utilities ९०० को छू कर गिर गया, जबकि कल इस कंपनी को फायदेकारक कोर्ट फैसला मिला था.  

Technical Indicators:

• The price is in a range of 957-686 since a long time, with some exceptions.
• A bearish counterattack candlestick formed today.
• There was a sudden surge in interest, but in making this stock price fall.
• The operators are playing this one heavily, expect further volatility in BF Util, could be a good one for day traders to make short term trades.

All posts related to BF Utilities  

BF UTILITIES Daily NSE Stock Chart Technical Analysis

NIFTY: Still Sideways

NIFTY Daily Chart Technical Analysis:

NIFTY had another big fall today, but in fact it was just another sideways movement with a slightly lower close.

Close & CMP: 5396

Market Outlook:

• The price made a sharp U-turn today and showed its bearish intentions, after attempting a recovery yesterday.
• NIFTY has remained above 5350, below which things start getting dangerous and another big fall could be expected.
• NIFTY ने गिरना जारी रखा. बेर्स ने मार्केट पर अपना कण्ट्रोल जमा रखा है. ५३५० महत्त्वपूर्ण सप्पोर्ट है. 

Technical Indicators:

• Yet another bearish engulfing pattern occurred today.
• The move was strong considering the range and volume.
• Currently, market is sideways and resting on an important support line.

All posts related to NIFTY

NIFTY Daily Chart Technical Analysis

Power Grid: In A Price Channel

Power Grid BSE Chart: Price Channels

POWER GRID Daily BSE Stock Chart Technical Analysis:


Power Grid is moving within a price channel and currently fell after hitting resistance today.

Close & CMP: 97.35

Market Outlook:

• The price is moving within a channel : 94 to 100
• Buy when it closes above 100, short when it closes below 94
• Power Grid ९४ - १०० के पेटे में चल रहा है. इसके ऊपर नीचे इसे खरीदा बेचा जा सकता है.

Technical Indicators:

• The price formed a shooting star candlestick today.
• Resistance at 100 is proving to be strong.
• What is noticeable is, this price channel includes the Power Grid FPO price range as well.  
• If price falls below 94, support is available at 89-90.

All posts related to Power Grid


POWER GRID Daily BSE Stock Chart Technical Analysis

Seamec: Underwater

SEAMEC Daily NSE Stock Chart Technical Analysis:

Seamec has continued to fall since Nov 2009.  The value has less than halved since that time.

Close & CMP: 109.65

Market Outlook:

• The stock price fell below its long term diagonal support line and this line is now acting as resistance.  Currently, the resistance is at 110.
• If the price falls further, there can be some expected support at 100.
• Seamec का भाव नवम्बर २००९ से लगातार गिर रहा है.  एक और सुप्पोर्ट लाइन को भी तोड़ दिया है और नीचे गिर गया है.  अब इससे ११० पर रेसिस्टांस है, और १०० पर सुप्पोर्ट है.

Technical Indicators:

• The price tried to make a U-turn today but hit its resistance and remained below.
• The price has recently fallen below a long-term support line which is now acting as resistance.
• Overall NIFTY is also falling, so no stock has as it is been able to sustain.
• Climbing and staying above 113 will be a good sign.

All posts related to Seamec

SEAMEC Daily NSE Stock Chart Technical Analysis

Fedders Lloyds Corp: Moving Sideways

FEDDERS LLYODS CORP Daily NSE Stock Chart Technical Analysis:

FLC made a slight rise today.  But it could simply be a correction.

Close & CMP: 77.85

Market Outlook:

• FLC has been falling since Nov 2010.  Right now it has found a support level at 73.  
• The price should rise to 82.  If it is able to rise and stay above 82, that is a good sign for this stock.
• If it falls below 72.50, that is a bad sign as there is important diagonal support line at this level.  Falling below 69 will be dangerous.
• Fedders Lloyd's Corp का भाव  नवम्बर २०१० से गिर रहा है.  इस का भाव ८२ के ऊपर गया तो यह अच्छी निशानी है.  पर ७२.५० से नीचे जाना बुरा है.  और ६९ से नीचे गिरना खतरनाक हो सकता है.

Technical Indicators:

• There was a gap-up today but a spinning top formation was generated, showing an indecisive market inspite of gap up.
• The momentum is upwards and so there is a good chance this stock will rise further.  Going above 82 and staying above it can mean a recovery.  
• 72.50 and 69 are important support levels below which another free fall could occur.

All posts related to Fedders Lloyd's Corporation

FEDDERS LLYODS CORP Daily NSE Stock Chart Technical Analysis

(analyzed for Parvesh, Nagpur)

Airtel: Bobbing Up and Down Near Support

BHARTI AIRTEL Daily NSE Stock Chart Technical Analysis:


Airtel maintained its status above the 200 DMA today.

Close & CMP: 323

Market Outlook:

• The price seems to be moving upwards.  Let's see how far it goes.  If it goes up tomorrow as well and the other indicators are looking right, there might be an opportunity to take a long position.
• Airtel आज ऊपर गया है.  शुरुआत में भाव गिरा लेकिन उसे ३०४ पर लॉन्ग टर्म सुप्पोर्ट मिल गया, और फिर भाव वापिस अपने २०० DMA और ३१९ सुप्पोर्ट के ऊपर जा के बंध हुआ.

Technical Indicators:

• A piercing candlestick pattern has occurred.
• The 200 DMA and long term support levels at 319 and 304 are helping the stock price sustain.
• Today's rise is accompanied with high trading force.
• The momentum oscillators are showing an upward rise.
• There is hope that Airtel will make an upward correction.

All previous posts related to Bharti Airtel 


BHARTI AIRTEL Daily NSE Stock Chart Technical Analysis

ICRCL Infra: Upward Correction?

IVRCL INFRA Daily NSE Stock Chart Technical Analysis:


IVRCL Infra has been falling since July 2010 and has lost about 60% of its value since then.

Close & CMP: 75

Market Outlook:

• There is a chance that this stock price will finally show an upward correction.  If it manages to go above 87, that will be a positive sign.
• IVRCL जुलाई २०१० से करीब ६० प्रतिशत गिर चूका है.  आज का चार्ट यह उम्मीद जगा रहा है की शायद यह शेयर अब ऊपर की तरफ जायेगा.  अगर यह ८७ के ऊपर गया तो यह पोसिटिव सिग्नल है. 

Technical Indicators:

• The stock price has been falling since a very long time and a correction is overdue as the price is deeply oversold.
• The stock was hugely traded on the exchange today but the price movement is not much.  
• If it falls further, than falling below 71 is a bad sign.

All posts related to IVRCL


IVRCL INFRA Daily NSE Stock Chart Technical Analysis

Airtel: At 200 DMA Support

BHARTI AIRTEL Daily NSE Stock Chart Technical Analysis:


Airtel fell again today, but has found support.

Close & CMP: 317

Market Outlook:

• The price fell today but found support at the 200 DMA.
• Moreover, there is double support as a previous consolidation area is also co-inciding with the 200 DMA.
• There is a chance that the price fall may be curbed.
• If the price falls below its 200 DMA, then Airtel will present an opportunity to go short.
• Airtel आज फिर गिरा.  लेकिन उसे अपने २०० DMA पर सुप्पोर्ट मिल गया है.  अगर २०० दमा को तोड़ कर नीचे चला जाता है, तो हमें शोर्ट पोसीशन लेने का मौका मिलता है. 

Technical Indicators:

• The price is resting on its 200 DMA.  In Nov 2010, the price touched its 200 DMA and rose back.  Let's see if the same will happen now.
• There is a previous consolidation area near today's closing price.  This is also acting as support.
• Momentum is improving, which is a good signal as well.
• The price rose above its 200 DMA in June 2010.  Falling below the 200 DMA is largely negative and if that happens, the stock price might then remain below 300 for some time.  

All posts related to Bharti Airtel

BHARTI AIRTEL Daily NSE Stock Chart Technical Analysis

NIFTY: Today's Chart Analysis

NIFTY Daily Chart Technical Analysis:

NIFTY fell again today but found support before closing.  

Close & CMP: 5417

Market Outlook:

• The index had another long fall today, but is resting on support.
• If NIFTY falls again tomorrow, it should find further support until 5350.  Falling below this level could be dangerous.
• आज NIFTY फिर से गिरी. पर उसे सुप्पोर्ट मिल गया है और सुप्पोर्ट पर ही रुक गयी.  अगर यह कल और नीचे जाती है तो ५३५० तक सुप्पोर्ट मिलता रहेगा.

Technical Indicators:

• The price is resting on its support line.
• There was a bearish engulfing candlestick pattern today.
• The momentum is showing some upward movement though the force is tremendous.  So the market could go in either direction tomorrow, there is no specific trade signal yet.
• Closing exactly on the support line without breaking is a positive sign.
• A lot of contrasting signals amongst technical indicators; the market is going haywire, and there is high insecurity.  As this insecurity reduces, the market should stop falling like it is right now.

All posts related to NIFTY

NIFTY Daily Chart Technical Analysis