Thangamayil Jewellery: Negative Signals

THANGAMAYIL JEWELLERY Weekly NSE Stock Chart Technical Analysis:

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

Thangamayil Jewellery is a 2010 IPO which started trading on 19th February 2010.  It enjoyed a bullish run for the first 6 months.  Since then, for the last 5 months, it has been moving sideways.

Market Outlook:

• The price seems to have stagnated, and unless it breaks above 190, there is no chance it will revive its bull run.  For now, there is a high chance that this price will start moving downwards soon.
• The levels of support are 159 and 149 respectively.
• Don't enter this stock right now, and get ready to sell your existing Thangamayil if the price continues downwards.
• If Price Falling below 159 --> exit any long positions.  
• If Price Falling below 149--> Take short positions and enjoy the bear run.

Technical Indicators:

• A pattern resembling the head and shoulders has emerged.  It cant be exactly called HnS pattern but has a close resemblance.
• The price has fallen below its long term diagonal support line today

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THANGAMAYIL JEWELLERY Weekly NSE Stock Chart Technical Analysis

Talwalkar Fitness: Rising from Support Line

TALWALKAR FITNESS Weekly NSE Stock Chart Technical Analysis
(This is a weekly chart, hence each bar/candlestick represents one week of activity)


Talwalkar Fitness (IPO) began trading on 10th May 2010.  Since then the stock price has climbed steadily within an upward price channel.

Market Outlook:

• The price is headed upwards
• Target1: 290  Target 2: 325  SL: 256
• The only point of concern is that the week has ended with heavy selling pressure.  This means that there could be initial fall in price when the markets open on Jan 3rd.  So use good judgement before making the actual trade.

Technical Indicators:

• The price is moving within a price channel, between its lines of support and resistance, as visible on the chart.
• There is strong support at 256 and 218.  Coincidently, there are the exact points where the price touches the support trendline as well.  This shows a very co-ordinated price movement, which makes it easier to trade using technical charts.

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TALWALKAR FITNESS Weekly NSE Stock Chart Technical Analysis