NIFTY Post-Budget Day

NIFTY Daily Chart Technical Analysis:

NIFTY had a soaring day.  It defied what the indicators were saying yesterday, but I would still not consider that the market is out of the woods.

It stopped at its diagonal resistance today after a lower volume high jump.  Emotions are flying in the air after the budget, so the market is showing volatility.  By the end of this week the emotions should settle down and NIFTY should show a definite direction.

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NIFTY Daily Chart Technical Analysis

Seamec: Still Underwater

SEAMEC Daily NSE Stock Chart Technical Analysis:

Seamec again fell today and remained below its diagonal resistance.

Close & CMP: 100.4

Market Outlook:

The stock price is below its diagonal resistance but is resting on its support @ 100.  If 100 is broken we could see another big fall.  This looks like a sideways price trend is emerging.

Technical Indicators:

Some inverted hammers in the past few days bounced off below the resistance, showing the strength of the diagonal resistance.  

Today the price stopped exactly at its support @ 100.

So, there is a battle between the bulls and the bears and there is chance that this stock might remain sideways in March.

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SEAMEC Daily NSE Stock Chart Technical Analysis