REC forms Triple Top in Point and Figure Chart

Rural Electrification Corporation Limited (REC), India's leading public Infrastructure Finance Company in powehttp://www.blogger.com/img/blank.gifr sector has formed Triple Top in the Point and Figure Chart. REC has reached its all time of high of 413.80 on Oct 12, 2010. Right from there the REC has turned negative and traveled towards south. On Feb 23, 2011 REC reached its 52 weeks low of 215.70. During this period stock went down by 200 points which is close to 50%.More...

RSI buy signal in Mhasis Weekly Chart

Mphasis, India's sixth largest IT company has formed RSI buy signal in the weekly chart. In a month Mphasis went down from its 52 weeks high of 711.40 to 52 weeks low of 373.60 which is more than 50%. The stock has side way correction for more than 3 weeks. Mphasis has rallied to 420 from 395 as part of Nifty's last week rally. More..

Axis Bank with Triple Bottom & Head and Shoulder Bottom in daily chart

Axis Bank, one of India's leading private bank has formed many bullish patterns in daily chart. For more than six months Axis Bank was in downtrend and has formed lower highs and lower lows. During this period Axis Bank went down from its All time of high of 1,608.50 to 1,150.00. More..

Tata Steel Forms Inverted Hammer in Candlestick Charts on March 16, 2011

Today Tata Steel Limited has formed Inverted Hammer in Candlestick Charts. Tata Steel has been in a downward journey for quite sometime. The inverted hammer evidence that the downtrend is close to its bottom and the trend may change in the coming days. Today Tata Steel has opened at 585.00 and went up to 607.50 and closed at 593.30.

Inverted Hammer is the sign of reversal in the recent downtrend. There was a balanced between buyers and sellers, even at sometime the buyers are dominating the stock. Eventually the attempt has failed and the stock has closed near the day's open.

Ambuja Cements Forms Bottom Triangle on March 16, 2011

Ambuja Cements Ltd has formed Bottom Triangle in the daily chart. For more than a month Ambuja Cement was trading in range bound between 111.00 in the lower side and 130.00 in the higher side. During this period twice the stock had touched 130.00 level which also forms high end of the Bottom Triangle. Today the stock had very bullish move and closed above 130 mark....

BHEL closes below 200 weekly moving avearge with Bearish Engulfing

The Bharat Heavy Electricals Limited (BHEL) closes below its 200 weekly moving average for the week ends on Feb 25, 2011. It also forms Bearish Engulfing in the weekly Candlestick charts. For more than 2 years the stock was trading in a range bound between 2,000.00 to 2,574.00. For the same period Nifty was trading in the upside trending range bound. On Friday the stock has created its 52 weeks low of 1,961.00.
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Infosys Technologies Forms Three Black Crows on Feb 25, 2011

Infosys Technologies Limited has forms Three Black Crows on Feb 25, 2011 in Candlestick Charts. Last week the stock went down 3% or 93.00 points and stocks closed at 3007.30.

Infosys Technologies show more bearish signal in day trading. On Wednesday (Feb 23) the stocks creates gap down opening with reasonable volume. The MACD oscillators are also creates sell signal....