Many technical analysts were alarmed yesterday because the VIX closed at 30.81. Why the concern? Because over 30 is currently considered a reading that has been associated with past stock market drops. One day does not make a trend, so more than one day would be required to confirm a trend change. At the same… Read More »
A bearish reversal pattern consisting of three consecutive long black bodies where each day closes at or near its low and opens within the body of the previous day. So this is about the Definition Now lets see BHEL Charts and dig it further Now as seen on BHEL charts Three Black Crows BHEL has… Read More »
As expected by all, the much awaited improvement finally came in! March 09’ might well have been the last of the contraction that we have seen. April IIP numbers does indicate a cause for some celebration. April IIP was in the positive at 1.4% v/s the contraction of 2.3% in March. Electricity continued to grow… Read More »
Hi All, Hope you all had a wonderful Week.Nifty had a dream run going down by 157 points on Monday and than touching a high of 4703 on Future on Friday before surrendering its gains inspite of good iip Numbers.So what does it suggest and coming on Sensex, Sensex kept up the façade of an… Read More »
Reliance the Index Heavyweight and the Poster Boy is truck in a Channel from 2128 to 2330 and currently trading at the top end of channel.Prudent trade will be to take long only above 2350 for a target of 2400 2478 2520 and if suppose if 2087-2094 breaks on down side than we have a… Read More »
Kotak Bank is showing a Channel formation in Daily Charts,Now what i feel is it is in a range of rs 600 to 703 and right now at upper band. Now buy Kotak bank above 704 for a tgt of 725 750 and short below 600 for a tgt of 571 and if it breaks… Read More »
Nifty EOD Daily charts are showing Evening Star formation. Now first lets see what exactly is this Evening Star and its implication 1. The first bar is a large white candlestick located within an uptrend.2. The middle bar is a small-bodied candle (red or white) that closes above the first white bar.3. The last bar… Read More »
Nifty at last Broke the scared levels of 4444-4448 and that too with a bang made a low of 4409 which shows the bear power and as discussed in the Below past that it is appearing that it is buy on Dips strategy but today it became exit and wait strategy. Lets figure out what… Read More »
Often times, you may have noticed that we point out market conditions that are showing a “Divergence”. What are divergences and why are they important? First … a divergence usually involves the direction of an asset’s price versus the direction of an indicator that suddenly starts to move in an opposite direction. Market technicians consider… Read More »
The fall of GM is symbolic of the current times in which America is living in. If GM was the symbol of the arrival of the super power in the early 1900’s, the fall of this mammoth company is a reflection of the collapse today. It is Japanese cars which command the maximum respect and… Read More »