Airtel reaches support point

Airtel continues in its 4 month price channel, touching the support line today.  Coupled with stochastics, it indicates that the price should go up again tomorrow, atleast to the point of resistance.  Unless the market opens lower than support tomorrow, today indicates a buy signal for Airtel tomorrow.

Chart Source: www.moneycontrol.com, in.reuters.com

Ingersoll Rand Breaches Support Trendline

Stock has walked out of its two month trend support.  It is walking sideways – showing undecidedness.  

The trading volume is very low as well.  

The stochastics is trading below midzone, hence there might be some purchasing soon.  The last formation is a weak hammer.  The stock is trying to gain support but facing resistance at the same time.  Have to wait and watch.