Infosys at support

As can be seen from the chart given below it is clear that 1900 level looks as a good support for infosys. Considering multiple attempt made by the stock to break it have failed I thing its a support being defended by many.

Now considering the current market price of 1950 one is very close to Stop Loss which reduces your risk (ie Loss in case the stoploss is activated) . This makes taking long postition in Infosys a very low risk proposition.

Ranbaxy at resistance

As can be seen from attached chart ranbaxy is facing resistance on the down trendline. Up move would now come only after break of 400~415 level resistance with good volume.

On the brighter side it has also taken support on the up trendline at 375. Now 375 is good support and the stock will surly find direction in next few days to come.

Hotel Lela bottoming out

There is clear indication in this counter about the bottom fishing. There is a good volume support. (ie the volume picks have come on the day the prices have risen) and if it closes above 62 one can buy it with target of 67.5.

The target is arrived at considering the resistance level of earlier consolidation. If you are holding this stock then 54 should be your Stop loss. Stop loss as can be seen is arrived using the New Up trendline (SL LINE in red). Hence the Stop loss keeps on rising as the time goes by.

Neyvelli Lignite double top at 68

Neyvelli lignite is not showing much improvement in the On Balance Volume. While It has made the double tops at the 68 level as can be clearly seen from the attached chart. Further up move might be only confirmed after we see breaking of 68 level.
I was having position in this stock hence was monitoring it. Now I have squared off the position after looking at this picture.

Suzlon Inverted Flag

Suzlon have now given the bearish flag.

Check the chart and the target of 1050~1025 would achieved once it breaks the 1110 level.

While for the second time I am trying to point out the flag. Hope it works out correct.

Neyvelli Lignite followup

I am happy that I had identified the Flag earlier and it worked out fine while the target given by me was 69 which should have been 68 (Lesson learnt).

Now that you can see that after breaking the flag the Stock rose till 67.95.
Revisiting this chart now throws some more light. It shows that there have been good volume peaks on the days when the candles are while (ie the stock rose). This is really good sign of buying interest in the stock. I expect it to break 68 level in style while the last two days low of 65 would act as good support hence I think we need to keep the Stop Loss at 64.90.

Parsvanath Breakout . . . .

During the down trend all the stock makes the trendline joining the tops. This is the down trendline. I have found that Once this down trendline is broken with a good volume the stock rises and the bull phase begins.


This phenomena is seen in Parsvanath Developers. Yesterday's close above 324 have made is a good breakout case. Now for the traget we can assume 2 rising trendline from the tops. As below
We can then safely kkeep the target of 375 and 390 respectively.

Falling Wedge in SEAMEC . . .!

Breakout from falling wedge is a good bullish indication. This can be seen in the SEAMEC's chart given below. The volume support is also good during the breakout. In this type of pattern its difficult to predict the target. I have tried to predict the target using the older resistance line.From the above chart it seems that this stock is heading for 205.

RNRL heading to 34

On the weekly chart you can see that RNRL is now above the resistance line. Now one can expect it to move to 34 level easily.

NALCO trendline

Just Spotted a trendline in NALCO. While its more of academics now since the stock is already away from this trendline. There is currently a good volumes with which NALCO is trading. It might face resistance nr 265 level. Wait and watch is what I would be doing for it.

Sesa goa waiting for direction

You can see the good resistance building at 1850 level while the rising trendline is also valid. It can any time breakout on either direction. While the long position can only be taken only after close above 1850 is seen and rather with the handsome volume.

2000 would be next level where the resistance would come if it closes above 1850. While close below 1700 would give bearish signal.

Reliance migh be doing double top

Reliance might be upto doing the double top (reversal pattern) after the long run-up while it is yet to be proven one have to keep a cautious view on this one.

Flag in Neyvelli

This is for the first time that I have identified the Flag pattern. While let me see if there is some success in it. By the books Stop Loss to be 60.90~61 and Target on breakout from flag would be 69.