TECHNICAL PREDICTIONS FOR 28TH NOV. November 27, 2014 by Ashok Goel·0 Comment NIFTY(8494) Today nifty almost closed at 8500(8494). Despite, being the settlement day, it closed on its day high. The momentum after falling, starting rising, which is a positive sign. OBV is rising , indicating fresh flow of funds in the market. RSI is stable above its 70 levels and Stochastics are also stable at 80 levels. The Nifty is trading above all its moving averages. BUY with a Stop Loss of 8465 with a target of 8520 and 8538nifty27yhnov. DLF(137.50) The momentum after following below Zero line has again touched the Zero Line from below. OBV has also started rising. On Charts the stock has made a “Piercing Line” pattern. This pattern occurs in a downtrending market and is a two line or two day pattern. The first day is a black candle, which supports the downtrend and the second day ia a long white day, which opens at a new low and then closes above the midpoint of the preceding black day. This action causes concern to the bears and a potential bottom has been made. BUY with a Stop Loss of 140 and a target of 163. DLF27THNOV. GUJARAT GAS(600.30) All the Oscillators of the scrip are in positive territory. On Charts, the stock has made a ” Bullish Thursting” Pattern. This pattern starts with a long white day. This means that an up trend has been in place. Bullishness is increased with the long white first day. The market gaps way up on the second day, opening well above the first days high. The market then declines on this second day , closing into the body of the first day, but not below the midpoint of the body of the first day. This second day should be viewed as a normal pause or break in the up trend, and the up trend should continue shortly. BUY with a Stop Loss of 586 and a target of 622. GUJGAS27YHNOV. IRB INFRA(267.70) The momentum has risen sharply from below to cross the Zero line from below, which is a bullish sign. On Charts it has made a Bullish Engulfing Pattern. The first day of the Engulfing pattern has a small black body and second day have a long white body. Because the second day’s move is so much more dramatic, it reflects a possible end to the previous trend. The bulls have shown tremendous strength, which does not go unnoticed by the bears. BUY with a Stop Loss of 258 and a target of 272 and 278. ORIENTAL BANK OF COMMERCE (286.15) This stock has made a long white candlestick on the Charts which is similar to “One White Soldier” Pattern. This pattern starts with a long black day, which was made on 26th Nov., as next day it made a Doji, meaning indecision. The second day is a long white day that opens at or above the previous day’s close and then closes near the highs of the day, ending above the high of the previous day. The momentum has also crossed the Zero line from below, which is bullish sign. Emotionally, the down trend has been damaged. If the following days price continue higher, a major reversal of the down trend has occurred. BUY with a Stop Loss of 274 and a target of 293 Read more a2analysts/
Posted on: Fri, 28 Nov 2014 02:59:06 +0000
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