This counter lost its sheen with prices being reduced from high of 480 (December 2007) to low of 32.50 (March 2009). Lower levels attracted buying interest and resulted in bulls staging a recovery. Though 40-week EMA proved to be a resistance, positive sentiments that had returned in broader markets had a spilling effect on this counter too, leading [...]
3I Infotech Prices of this counter skyrocketed subsequent to its March 2009 low of 25. Stock raced higher and touched high of 95 in June, generating decent return for its value investors in a short span of three-months. Bears hit back at 95 levels and dragged prices lower, but 40-week EMA proved to be a [...]
REI AGRO Limited This counter staged a turnaround during April 2009 with a long-bullish candle signaling renewed buying enthusiasm. Prices slipped into side-ways movement for next few weeks but positive sentiments prevailing in the counter helped longs scale higher grounds. The psychological level of 100 proved to be a resistance with stock sliding lower from [...]
This stock has been going through an ascending triangle type consolidation in the past few weeks. A failure to exceed 740 levels clearly suggested that the bears were in force to absorb every demand near these levels. However the minor higher bottom formation during this consolidation with the help of a trend line gives a [...]
Bulls halted the southward journey of this airline counter during November 2008, with prices being reduced to a paltry 22. A higher bottom at 24.40 in March 2009 coupled with buying interest a few weeks later alerted of fresh bullish bias in this counter. Stock rallied but prices were unable to sustain above retracement level [...]
This banking sector counter has been going through an ascending triangle type consolidation in the past few weeks. A failure to exceed 390-95 levels clearly suggests that the bears are still in force to absorb every demand near these levels. However what provides a positive hint is the fact that during this consolidation prices are [...]
The attached weekly chart shows that prices have been struggling to clear the trend line resistance for a while now. Formation of higher tops and bottoms in this period indicated the fact that despite of the resistances the uptrend here was maintained. Last week’s smart rise saw nice trended moves here which pushed prices into [...]
Prices launched a steady uptrend after hitting a double bottom around 86 in March 2007. This rise led the stock to around 240. What a phenomenal rise!!!! Near this region, it completed a accumulation pattern and got stuck in a sideways phase. This was possibly owing to the presence of profit booking after such a [...]
This stock from the Telecom space has been trapped in a range bound phase with wild swings on either side. On the higher side of the range, we note the stock struggling to clear the top registered in first week of June 07 around 130. Formation of upper shadow near this area clearly suggested the [...]
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Ranbaxy – Short-Term Investments
This stock was trapped in a tight congestion phase for several days and had a tough battle with 425-430 levels. A look at the attached weekly chart clearly suggests that this level was formed by a stiff resistance of the 62% retracement of the entire primary decline. The recent rise was quite swift and decisive [...]