BF Utilities: Sideways Movement

BF UTILITIES Daily NSE Stock Chart Technical Analysis:

BF Utilities fell again today, after hitting the short-term resistance at 900.

Close & CMP: 841.35

Market Outlook:

• Yesterday, the price had risen as an important court verdict cleared the way for a new project, but seems like today the market still chose to not respond positively.
• The stock price fell today after hitting 900, so 900 has emerged as a strong resistance for the time being.
• Can be viewed positively only if it breaks both 900 and 957.
• BF Utilities ९०० को छू कर गिर गया, जबकि कल इस कंपनी को फायदेकारक कोर्ट फैसला मिला था.  

Technical Indicators:

• The price is in a range of 957-686 since a long time, with some exceptions.
• A bearish counterattack candlestick formed today.
• There was a sudden surge in interest, but in making this stock price fall.
• The operators are playing this one heavily, expect further volatility in BF Util, could be a good one for day traders to make short term trades.

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BF UTILITIES Daily NSE Stock Chart Technical Analysis

Power Grid: In A Price Channel

Power Grid BSE Chart: Price Channels

POWER GRID Daily BSE Stock Chart Technical Analysis:


Power Grid is moving within a price channel and currently fell after hitting resistance today.

Close & CMP: 97.35

Market Outlook:

• The price is moving within a channel : 94 to 100
• Buy when it closes above 100, short when it closes below 94
• Power Grid ९४ - १०० के पेटे में चल रहा है. इसके ऊपर नीचे इसे खरीदा बेचा जा सकता है.

Technical Indicators:

• The price formed a shooting star candlestick today.
• Resistance at 100 is proving to be strong.
• What is noticeable is, this price channel includes the Power Grid FPO price range as well.  
• If price falls below 94, support is available at 89-90.

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POWER GRID Daily BSE Stock Chart Technical Analysis

Airtel U-Turn Downwards

AIRTEL Daily NSE Stock Chart Technical Analysis:


As analyzed in yesterday's post, Airtel price on NSE fell back today after a gap-up yesterday.  The market returned to yesterday's opening price.

The market opened at 335.3 and closed at 329.25.

Market Outlook:  Tomorrow the stock will fall further, though probably not with the same intensity as today.  

Technical indicators:
The 20 day moving average has crossed the 50 day moving average.  That's sad.
A Counterattack Candlestick was created.  That's not too happy either.

Hero Honda Moving Averages Coming Together

Wow! And I thought yesterday that the Hero Honda stock price in NSE would close positively today.  I wonder which indicator I missed.

The price fell today owing to weak quarter performance of Hero Honda.

There is a bearish counterattack pattern appearing today and the market has returned to its last day's open, and this is a negative signal.

Interestingly, the 20, 50 and 100 day moving averages have come together today, which means the market is building a consensus on the next price movement.  The 20 day moving average climbs through the 50 day moving average from below, which is a positive signal.

The volume is lower than yesterday, showing that today's price fall does not have the same intensity as yesterday's rise.  This is a positive signal.

We are getting a mix of positive and negative signals, making it difficult to determine the next price movement.

Ideally, if the stock price falls further, it should find support at the 250 day moving average, as the price has not fallen below this level or remained fallen below this level for more than a week since the past 2 years.

I feel the price will fall on Monday market open, bottom out near the 20 day moving average, and rise again. For now, a short position can be entered into with a purchase at 1860, stop at 1930 levels and a target at 1820-1800.