Cera Sanitaryware: Struggling below Support Line

CERA SANITARYWARE Daily NSE Stock Chart Technical Analysis:

Cera fell sharply on opening, but rallied back up to close higher.

Open:  151.6, Close & CMP: 147.25, Intraday Low: 126 !

Market Outlook:

• The price is fighting to rise back above its support price at 152.
• If it rises above 152 and closes higher, that's a good time to buy this stock if everything else is looking okay as well.

Technical Indicators:

• A strong Hammer has formed.
• The day ended with a strong buy. 
• When the stock opens on Monday, it could initially fall.  If it manages to close above 152, that could be a good buy signal.  I'll try to update on Monday evening.
• If it doesn't rise above 152 and falls, 132 is where the next support is.

CERA SANITARYWARE Daily NSE Stock Chart Technical Analysis

Cera Sanitaryware Ends Week with 50% Fibonacci Level Support

Cera Sanitaryware stock price on NSE has ended the week sideways.  The stock has taken support of the 50% Fibonacci level today.  We had discussed about this stock continuously taking Fibonacci support in yesterday's post.

The market seems to be very confused about where Cera will head next.  It seems definitely set to fall further on Monday 1st November 2010.

Cera Sanitaryware Sideways taking Fibonacci Support

Cera Sanitaryware is sideways after a quick rise in late July. 

Currently, its trading using the Fibonacci support levels.  Today's intraday low took support of the 61.8% Fibonacci and closed very near to yesterday's close.  Today's candle shows that the day ended with heavy selling pressure but relatively low volume.  

No clear signs of where the market is headed after its sideways journey.  Intra day price volatility is also very high, making it a good stock for intraday.  As I don't usually trade intraday, I'm steering clear of this choppy stock right now and will wait for clear signals to go long/short.