SBI: Facing Resistance @ 200 DMA

SBI Daily NSE Stock Chart Technical Analysis:


SBI did a gap-up on 24th and remained rangebound on 25th.  The stock price has faced resistance from the 200 DMA on both these days.

Close & CMP: 2678

Market Outlook:

• The price has been in an overall bear run since November '10.  The announcement of the quarterly results on 24th Jan '11 led to a gap-up opening and rally.  However this seemed unsustainable on 25th.  Don't buy this stock yet, there may be further downside possible.
• २४ जनुअरी को रिजल्ट आने के कारण एस बी आई के भाव में काफी उछाल आया था, लेकिन २५ को फिर से भाव धीमा पड़ गया था.  अभी इस स्टॉक को न खरीदें, २-३ दिन रुक कर देखें, क्यूंकि यह अभी और नीचे भी जा सकता है.

Technical Indicators:

• The price has run into resistance from the 200 DMA at Rs 2694.  The price is trading under its 200 DMA after an entire year.
• Though there was a gap-up on 24th, it seems doubtful if that will be the beginning of a bull run.  Only if the price closes above the 200 DMA for the next couple of trading sessions and the force shows strength, we can think of it as an oncoming upswing.

SBI Daily NSE Stock Chart Technical Analysis

Cadila Healthcare: Will The Bullrun Continue?

CADILA HEALTHCARE Daily NSE Stock Chart Technical Analysis:

Cadila is on a high since a long time.  The price has constantly risen since early 2009.

Close & CMP: 840

Market Outlook:

• The price could make a downward correction this week.
• There is a chance that the price might have hit its upper limit, or might take some time to return to its upward journey again.
• If you have a long position on this stock, then be on an alert for any possible loss in value.
• If you were planning to take a long position, wait.
• In fact, there could be an opportunity to go short in this week itself.
• Cadila का भाव पिछले दो साल से बढ़ता ही चला है.  पर अभी अभी का एकदम आया हुआ उछाल संदेहशील है.  अभी एक- दो दिन देखें फिर ही खरीदें.  और अगर खरीद चुके हैं तो नज़र रखें की अगर यह शेयर नीचे जाता है तो बेच कर प्रोफिट ले सकें. 

Technical Indicators:

• The price made a Three White Soldiers candlestick formation and is now sideways since the past two days.
• This sudden spurt in price after such a long rise does not seem very promising, and it could make a tower top formation.
• The price has climbed above its upper bollinger band, and could possibly fall back.  The price has taken support on the upper bollinger band since last two days.
• There is also a chance that Cadila's bull run could be nearing an end.  Keep a close eye on this one to avoid any possible losses.

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CADILA HEALTHCARE Daily NSE Stock Chart Technical Analysis

STC: Resting on Support at 281

STC STATE TRADING CORP Monthly NSE Stock Chart Technical Analysis:

(This is the monthly chart and each bar/candle represents 1 month of activity, the last one is updated until 25th Jan)

STC has lost value for an entire year now, it has been falling since Feb 2010.
Current close & CMP: 284

Market Outlook:

• The stock price is really low and has found support.  There is a chance that the downfall might finally stop. 
• But I would not take any positions on STC right now, there are no trade signals yet.
• If you already have a position, hope that this support line sustains.  
• STC पिछले १२ महीनो से गिर रहा है.  आखिर में उसे अभी सुप्पोर्ट लाइन ने सहारा दिया है.  हो सकता है की अब आखिर में यह गिरना बांध करे और कुछ समय तक इसी भाव के आस पास चले.  

Technical Indicators:

• The price has reached its support at 284.  If this support sustains, the price will finally move upwards.
• If this support breaks, then the stock could fall to 215-225 levels.
• The price is at the level where it has consolidated in the past, so we might see a sideways movement again.
• The price has hit the oversold levels and so a correction could happen soon.
• The force index is also showing weakness, indicating that there is a possibility the market could stop falling further.
• For short term, if the price rises above 295, STC can be purchased and sold as soon as the price turns downwards again.
• If NIFTY takes a big hit, then STC might not be able to sustain and fall even further.

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STC STATE TRADING CORP Monthly NSE Stock Chart Technical Analysis

NIFTY Update: Fails to Break Resistance Today

NIFTY Daily Chart Technical Analysis:

• NIFTY opened at its resistance today at 5763 and rallied upwards in the first half, but finally succumbed and could not break its resistance.  The index finally closed at 5687.  So NIFTY continues its sideward journey.
  
• Let's see where it goes tomorrow.  The market seems readying to make a good move in either direction and breakthrough either resistance or support.  The only question is when the market will make this big move.
  
• निफ्टी आज अपने रेसिस्टांस लाइन पर ही खुला और दिन की शुरुआत में ऊपर की ओर रुख किया, पर वापिस नीचे आ गया और रेसिस्टांस के नीचे ही बांध हुआ.  देखते हैं कल क्या होता है. 

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NIFTY Daily Chart Technical Analysis