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.  

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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.

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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.

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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.  

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SPICE JET Daily BSE Stock Chart Technical Analysis