Dabur: Sliding...

DABUR Weekly NSE Stock Chart Technical Analysis:
(This is a weekly chart.  Each bar/candlestick shows 1 week of activity)


Dabur has been falling since a while.  Last week was one of the biggest falls in a single week for Dabur.

Close & CMP: 91

Market Outlook:

• The price seems headed downwards.
• If price manages to go above 93, only then there is any hope for Dabur.
• The price currently found some support at 87, but it does not seem like a strong support and the price has a strong possibility of falling further.
• डाबर का भाव गिरता चला जा रहा है.  उपरान्त हेड एंड शौलडर्स (सर व् कंधे) की बनावट भी चार्ट पर दिख रही है.  अगर भाव ९३ के ऊपर नहीं जा सका अगले २-३ दिनों में, तो फिर समझो की यह शेयर कुछ और समय के लिए तो ज़रूर फिसल गया.

Technical Indicators:

• The dreaded head and shoulders pattern has finally shown up.  We were expecting this pattern since November.
• This week's fall in price is comparable to only one other week in the entire past 3 years.
• The trading force is high.
• The stock price will try to climb back upwards but it seems unlikely that it will succeed in doing so.

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DABUR Weekly NSE Stock Chart Technical Analysis


(analyzed for Prashant, Surat)

Financial Techno: An Upward Movement Possible

FINANCIAL TECHNO Weekly NSE Stock Chart Technical Analysis:

(This is a weekly chart, so each bar/candlestick represents 1 week of activity)

Financial Techno has been falling since April 2010.

Close & CMP: 704

Market Outlook:

• The price is expected to go sideways or make an upward correction now.  And this upward correction could be sustainable as well.
• The resistance is at 904 if this upward correction happens.
• If the price closes below 713 for a couple of more days, it could be an immediate bearish signal.
• यह शेयर अप्रैल २०१० से गिरता चला जा रहा है.  अभी इसे सुप्पोर्ट मिला है और यह साइडवेज जा सकता है या थोडा ऊपर की और भी जा सकता है.  अगर ऊपर गया तो ९०४ पर रेसिस्टेंस है.

Technical Indicators:

• This stock has retraced to 23.6% of its position, a very bearish place to be.
• The current price level seems sustainable.  
• The force is quite less compared to the massive volume.  The stock price could exhibit upward movement. 

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FINANCIAL TECHNO Daily NSE Stock Chart Technical Analysis

(analyzed for Prashant, Surat)

ADSL (Allied Digital Services) In A Bearish Dive

ADSL (Allied Digital Services Ltd) Weekly NSE Stock Chart Technical Analysis:
(As this is a weekly chart, each bar/candlestick represents 1 week of activity)

ADSL had remained sideways for more than an year, before it finally made a bearish breakout in Nov 10.  Since then, the stock price has continuously fallen.

Close & CMP: 155.35

Market Outlook:

• The price could make a small upward correction but then will fall downwards again.
• The next level of support where the price should get some consolidation is at 140.
• ADSL का भाव नवम्बर से गिर रहा है.  इस वक़्त इसमें थोड़े से उपरी मुदाव की सम्भावना है, पर रुख तो नीचे की तरफ ही है.  १४० के पास इस को सुप्पोर्ट मिलना चहिये.

Technical Indicators:

• Three black crows has appeared on the weekly chart, a strong bearish signal.
• 3 important trendlines converged at 195.  The price failed to break above 195 and has remained below.  This is a double bearish signal followed by the preceding bearish breakout in November 2010.
• The price is currently trading within a price channel.
• All indicators are pointing towards the possibility of an upward correction.  So the price could go upwards and hit its resistance in the price channel between 175-155 and then fall back again.
• 140 is a good support level and some sideways movement and consolidation can be expected at this level.
• Overall, a bearish movement in ADSL.  Let's see what happens in the 140-120 price range, which is a support zone for ADSL.  

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ADSL (Allied Digital Services Ltd) Weekly NSE Stock Chart Technical Analysis


(analyzed for Ravichandran, Bangalore)

NIFTY: Support In Sight, Could Provide Momentary Relief

NIFTY Daily Chart Technical Analysis:

NIFTY had a big fall again on Friday, but there was strong buying near the close of the trading period which says that the bulls have not disappeared from the scene yet.

Close & CMP: 5512

Market Outlook:

• NIFTY is near its support area which lies in the 5350 - 5590 range.  As NIFTY is just above this range, the downfall could slow down in this week, at least momentarily.
• Overall though, things are still looking negative so after some sideways movement or small correction, we could see yet another decline.  Don't get bullish yet.
• NIFTY काफी गिर चुकी है लेकिन अब अपने सुप्पोर्ट रेंज के नजदीक है.  निफ्टी की सुप्पोर्ट रेंज 5350 - 5590 के बीच में है.  अब क्यूंकि निफ्टी इस रेंज के नजदीक है, तो गिरता हुआ भाव को कुछ देर तक राहत मिलनी चाहिए.  पर इसका यह मतलब नहीं है की निफ्टी ऊपर जाएगी.  अभी भी उसका रुख तो नीचे की तरफ ही दिख रहा है.  तो लॉन्ग पोसिशन अभी लेने से रुकें. 

Technical Indicators:

• Three Black Crows candlestick formation is visible on the NIFTY daily chart.  But the last day is not a shaven bottom, which shows increased activity from the bulls.
• There is a support range close by, so the price fall should slow down and even exhibit some upward movement.
• NIFTY is deeply undersold so this sideways could see some increased momentum. 
• The market force is quite high and the candlestick patterns, moving averages etc. are all showing an overall negative trend.

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NIFTY Daily Chart Technical Analysis