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

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

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

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