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....

Reliance Industries creates Gap-up with long upper shadow on Feb 22, 2011

Reliance Industries Ltd (RIL) creates Gap-UP opening, because of the over-night news that BP is going to buy 30% stake in it. The stock has closed at 984.85, 28.50 points or 2.98% up. At the one stage the stocks was up by more than 5% and trading around 1110.00 mark. Today's total trading volume of 2023.67 Crs was up-normal compare to its usual volume of around 500 Crs.

Reliance also had up-normal volume in the F&O segment. Future March Series has added 5682750 shares in open interest. In the Option segment, 980 & 1000 strike prices have combined added 26 Lacs shares in open interest in February Series....

S&P CNX Nifty forms Piercing Pattern in the Candlestick Charts on Feb 21, 2011

Today Nifty opened flat after last Friday's Bearish Engulfing. Till two o'clock nifty was forming lower tops and lower lows, which eventually took nifty at day's low of 5,413.10. There was a buying interest in the last two hours of trade in the front line stocks which took market to day's high of 5,526.25. Market has closed at 5,518.60, 59.65 points or 1.09% up. In the other hand sensex made day's low of 18,082.66 and high of 18,457.49. Sensex has closed at 18,438.31 which is 226.79 points or 1.25% up.

There was a very low volume in the cash segment. Both Domestic Institutional Investors and Foreign Institutional Investors were the net sellers in the cash segment. FII has sold of net of -245.42 Crores, DII has sold net value of -27.61. More...