Reliance Communications: Falling Again ?

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:


Close & CMP: 107.65

• Reliance Communications faced resistance near the Ichimoku Cloud at 108 as expected, and is now falling back and has broken its support trendline.  The momentum has also peaked and the volume has fallen.
• No long positions should be entered at this point.  Only enter short term positions with small time window of liquidating the position.
• Think of buying only if it rises above 118.
• Reliance Communications अब गिर रहा है और सुप्पोर्ट ट्रेंड लाइन के नीचे भी गिर गया है.  अभी इसे खरीदा नहीं जा सकता है, सिर्फ शोर्ट पोसिशन लें.  अगर ११८ के ऊपर जाता है तो ही खरीदने के बारे में सोचें.  

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RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Reliance Communcations: Price Channel & Possible Resistance

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

• Reliance Communications has risen in a price channel throughout March.
• Current Close & CMP: 104.75
  
• The price channel leads directly into the Ichimoku cloud, and the circle is the expected point of resistance for reliance communications.  Buy only around 118-120, if and when the blue cloud is crossed.
  
• Reliance Communications पूरे मार्च एक प्राइस चैनल में  रहा है जैसा की चार्ट पर दिख रहा है.  जहाँ गोला बनाया है वहां पर रेसिस्टांस मिलने की संभावना है.  तभी खरीदें जब ब्लू बदल को पार कर जाये, करीब ११८ के आस पास. 

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RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Reliance Communications: Important Triangle Tomorrow

RELIANCE COMM Daily NSE Stock Chart Technical Analysis:

Reliance Communications made a slight movement today, but nothing worth noticing.

Close & CMP: 95.05

Market Outlook:

• Buy if it closes above 96 or crosses 96 intraday with good volume on 23 Feb.  
• The level at 91 is serving as support.  

Technical Indicators:

• An inverted hammer-like formation occurred today.  Tomorrow the triangle gets completed so the stock should make some interesting movement.
• There is a sideways movement after a big fall (triggered by the probe news on ADAG).  
• There is also a steep diagonal resistance.  Breaking this resistance with good volume might trigger this stock price upwards and make it buy-worthy.  
• Going below 90 is further bad luck for RComm investors. 
• The way this stock has sustained the level at 90, let's hope for good news.

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RELIANCE COMM Daily NSE Stock Chart Technical Analysis

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

Airtel: At 200 DMA Support

BHARTI AIRTEL Daily NSE Stock Chart Technical Analysis:


Airtel fell again today, but has found support.

Close & CMP: 317

Market Outlook:

• The price fell today but found support at the 200 DMA.
• Moreover, there is double support as a previous consolidation area is also co-inciding with the 200 DMA.
• There is a chance that the price fall may be curbed.
• If the price falls below its 200 DMA, then Airtel will present an opportunity to go short.
• Airtel आज फिर गिरा.  लेकिन उसे अपने २०० DMA पर सुप्पोर्ट मिल गया है.  अगर २०० दमा को तोड़ कर नीचे चला जाता है, तो हमें शोर्ट पोसीशन लेने का मौका मिलता है. 

Technical Indicators:

• The price is resting on its 200 DMA.  In Nov 2010, the price touched its 200 DMA and rose back.  Let's see if the same will happen now.
• There is a previous consolidation area near today's closing price.  This is also acting as support.
• Momentum is improving, which is a good signal as well.
• The price rose above its 200 DMA in June 2010.  Falling below the 200 DMA is largely negative and if that happens, the stock price might then remain below 300 for some time.  

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BHARTI AIRTEL Daily NSE Stock Chart Technical Analysis

Reliance Communications: Upward Journey Begins

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Reliance Communications rose today and climbed back above its support line.

Close & CMP: 133.4

Market Outlook:

• The price seems to be headed upwards again.  There is an opportunity to buy.

Technical Indicators:

• A marabozu candle formed today
• The price climbed back above its support line at 132.50.
• A lot of people participated in rallying the price above its support line, almost twice as much trading happened today as compared to yesterday.
• The price is deeply oversold.
• There was a gap-down 4 days ago.  This seems like an exhaustion gap and the price could be ready to move up again.
• Rising above 137.5 will be a good signal.

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RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Tata Communications: Support Level Continues

TATA COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

The trading volume went back to its lower self today, while the price fell and closed at 247.

Market Outlook:

• The price is readying for a big move.  I talked about this looking like an accumulation phase on Friday, and today the same has continued.

Technical Indicators:

• There is a short term support line which is giving support to the stock price at the moment.
• Friday witnessed huge quantity in trading without a change in price.  That's suspicious behavior and the stock is surely readying for a big move.
• Most probably this is an accumulation phase, but it could even be getting ready for the next fall.  The answer should show itself soon.
• Tata Communications is in the midst of the 2G storm, btw, and the current price behavior is indicating that the management knows something which you and I are yet to find out, and should be finding out soon.  

TATA COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Tata Communications: Looks Like an Accumulation Phase

TATA COMMUNICATIONS Daily NSE Stock Price Technical Analysis:


The price remained range-bound today and closed without much difference.  Close & CMP: 250.65

Market Outlook:

• It seems like the worse is over for Tata Communications, which has been falling rapidly since mid-October.
• The seems to be increased interest in accumulating the share at its current price level.
• A rally seems to be in the offing, feel free to go long on price rise of this stock, with targets at 270 and 280.  But there is a chance this stock might cross 300 as well.

Technical Indicators:

• The price is consolidating sideways after a long fall.
• There has been very high interest in the share on Friday.
• Inspite of high trading, the stock value hasn't budged throughout the day, which is showing mixed signs of optimism and skepticism... in other words, an indecisive market with respect to Tata Communications.  
• The bulls seem to be finally wresting control from the bears, and the price could head upwards.

TATA COMMUNICATIONS Daily NSE Stock Price Technical Analysis

Reliance Communications: One More Day...

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Reliance Communications fell again as expected, Open: 144, Close/CMP: 136.9

Just one more day and the price will have its tryst with destiny as it touches the support level of 132.  Watch the contest between the price and support closely.  If support wins and price bounces back upwards, there could be a good possibility of buy.

This post assumes you have read yesterday's post

Reliance Communications: Support @ 132

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Stock price of Reliance Communications is falling like a missile from the sky.  Today it closed at 143.65.

Market Outlook:

• Where will this fall stop?
  The price should stop falling after falling another 11 rupees, at Rs. 132.
• If it starts rising after 132, good opportunity to buy and make money on this one (its been a while since anyone made money on this one)

Technical Indicators:

• The dreaded Head and Shoulders has formed recently, indicating that the price is going to keep pushing down further.
• The market bottomed out twice at 132 in the past 2 years.  This level is only 11 rs away from today's close.
• If market takes support of 132 and rises back, its a good time to buy.  Target can be decided only after it U-turns.
• In case it tumbles below 132, the next support is at 113.

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Reliance Communications: Gap Down

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

The price had a fall throughout the day, opening at 174.8 and closing at CMP 169.9

Market Outlook:

• Price is close to support lines at CMP and so what happens on Monday will lead to further clues.
• No buy-sell signals today.

Technical Indicators:

• Fibonacci 50% support @170, and then further below at 160.5
• There are also long terms diagonal lines of support and resistance as visible on the chart. 
• All moving averages are above the CMP.
• The RSI is close to oversold levels, indicating price fall could slow down soon.

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Airtel Weekly: 1-5 Nov 10: Support @324 will Rise this week

BHARTI AIRTEL Weekly NSE Stock Chart Technical Analysis:

 Airtel closed with an Inverted Hammer formation this week and was traded without much interest throughout the week.  

The CMP at end of week is Rs. 329.50.

Market Outlook:  

• The next week, we will see the price taking support at Rs. 324-326 levels, after which the price will rise again.  This is positive news after more than a month, as the price began its fall in late September.
• This is going as analyzed.  Last week, I had analyzed that Airtel will fall this week and rise in the next week.  This week the price has fallen and is expected to rise back next week.
• Buy if price crosses Rs. 332.
• Sell if price falls below Rs. 320.
• (Buy or sell only if price remains above or below these levels for 2-3 days without showing any signs of return, or there is a strong signal from other technical indicators).
• If the price starts rising, it should rise until Rs. 376 where it faces resistance.

Technical Indicators:

• The week ended with an Inverse Hammer Candlestick with low trading interest.
• The Fibonacci Arc 38.2% is acting as support for the price and will most definitely signal a reversal and the price will move up again.
• The short term moving averages are close to each other and a good move can be expected soon, most probably upwards.
• If the price manages to fall this week, the support will be at Rs. 300 - 305 levels.
• If the price rises then by Dec end it will face resistance at Rs. 376 levels.

News (Company's Fundamentals):

• The market is awaiting the launch of 3G services.  If this is well taken up by the market, the company's revenues will go up in all quarters of 2011 as compared to the current year.
• The company's quarterly results are not very good when looking at the results.  The net profits of the company are down.  But the reserves have moved up which is good as this allows the company to make big moves in the market in 2011 in terms of acquisitions and launching new services.   All eyes are right now on 3G and if it can work magic for Airtel.

BHARTI AIRTEL Weekly NSE Stock Chart Technical Analysis

Airtel Falling: Support @ 321 and then at 318

AIRTEL Daily NSE Stock Chart Technical Analysis:

As discussed in earlier posts on Airtel, the stock continues to fall for the 3rd day today. 

The price opened at 330.2 and closed at 326.15.

Market Outlook:  The price will fall further as well.  The points of support which might stop this fall are at 321 and 318.  If 318 is breached downwards with heavy intraday selling, it time to prepare to go short preferably a couple of days after that.

Technical Indicators:

The selling increased compared to yesterday, which shows that people are interested booking profits at this price level.  This is driving the price downwards.

News:

Watch out for any confirmation on the Qualcomm purchase deal.

As number portability (MNP) comes into play, Airtel is slated to be a big loser as it is the No 1 player.  This can make the numbers shaky for Airtel and affect the stock price negatively and then it might take time to recover from the fall.  Keep an eye on the MNP and its implications.

Reliance Communications: Lines of Support & Resistance + Long Term View

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Reliance Communication is moving sideways again with a few swings here and there.

It is facing resistance by a 1.5 year old trend line as is visible here.  At 174, there is a moment of decision and the price will either push below and go down, or go above and remain up.

If the market rises, the next points of resistance are 190 and 209.

Looking at a long-term chart, Reliance Communications seems to be set up for a big move soon.  Considering the company and the steed it belongs to, this move should be upwards.  The price could suddenly start rising. Keep an eye on the price levels for this stock.  Expect sudden and big moves.

Airtel Gap-Up

Airtel Daily NSE Stock Chart Technical Analysis:

Airtel jumped up and was one of the big gainers along with NIFTY today.

The price opened gap up at 329, whereas yesterday's open was 328.  The price rose steadily throughout the day and closed at 335.3.

Market Outlook:  It is not likely that the market will be able to continue today's pace tomorrow, unless people jump in thinking this is a rally, in which case it might be positive tomorrow as well and slow down the day after.  In any case, definitely sideways.

Technical Indicators:

• The market formed a positive marabozu candle today, price rising throughout the day.
  
• The volume is quite low, even though the price gapped up and rose throughout the day.  Too many people didn't participate today, just a few people changed hands at higher prices which the market overall seemed to not consider very believable.
  
• Moving averages have converged and after 2.5 months, the 20 day MA is about to cross the 50 day MA.  That's a good signal.
  
• The price got support near Rs. 220, where it made a double bottom.  This is also a previous consolidation level of the market, and it is positive that the price didn't break through and went back up again.
  
• The price has broken a trend line triangle.  The diagonal should serve as a support line for the next 3-4 days.

Reliance Comm Weekly: 25-29 Oct'10: Doji Candlestick

Reliance Communications Weekly Stock Chart on NSE Technical Analysis

The NSE weekly chart of Reliance Communications formed a Doji for this week.  It's a picture perfect formation, the stock price closed at less than Re. 1 higher on Friday than what it opened at on Monday.  What a super indecisive time for Reliance Comm!  The market is confused on what way this will move.

The week opened at 179.5 and closed at 180.1.  In between it made a high and low of 185.35 and 173.2.  

Outlook for next week:  The picture is not pretty.  The next week could turn negative price could fall back to end the week negatively.

Technical Indicators:

The moving averages look like creepers hanging from trees in the jungle.  The price has stayed below even the 20 week moving average for most part of the past 2 years.  And that's bad!

This week, it has crossed the 20 week moving average and touched its 50 day moving average.  Historical evidence shows that the stock price does not manage to stay above its 50 day moving average, and so breaking this level to rise upwards is going to take a lot of energy.

The stock is already showing oversold levels.  This means its a possible time for a downhill journey this week.  

The picture perfect Doji candlestick shows excessive indecisiveness amongst buyers and sellers.  Even then, the interest has not waned and the volume of trading is almost double the previous week.