TECHNICAL PREDICTIONS FOR 9TH DEC. December 8, 2014 by Ashok Goel·0 Comment NIFTY(8438.250 Nifty today broke its bullish trendline. It has broken its third reaction low point of 8508 and traded below to close almost at its low. The support level of the next trend line drawn on charts is 8432. Today it touched this level also. If it opens and trade below 8432 for first half an hour, then the nifty becomes weak for the time being. Its 100 Day moving average is 8204. If Nifty trades below 8432 for a considerable period, then you can SELL with a Stop Loss of 8472 with a target of 8398 and 8358. If it trades above 8432 for a considerable period, then BUY with a Stop Loss of 8398 with a target of 8512.nifty 8th dec. ASIAN PAINTS (793.50) On Charts , the stock has made an “Ascending Triangle”. In this pattern the upper trendline is flat, while the lower line is rising. This pattern indicates that buyers are more aggressive than sellers. It is considered a bullish pattern and is usually resolved with a breakout to the upside. The breakout is at 798. If the scrip trades above 798 with moderate volumes , then BUY with a Stop Loss of 783 and a target of 812. ASIAN PAINTS8THDEC. BHARTI AIRTEL (369.75) On Charts, the stock has made an “Inverted Hammer” Pattern. It is a bottom reversal line. Similar to its cousin the Hammer, it occurs in a drowntrend and represents a possible reversal of trend. It is important to wait for verification, in this case a bullish verification. This could be in a form of the next day’s opening above the Inverted Hammer’s body. Because the closing price is near the low for the day and the market actually traded much higher. If the next day opens above the Inverted Hammerr’s body , a potential trend reversal will cause shorts to be covered, which would also perpetuate the rally. BUY with a Stop Loss of 362 and a target of 375 and 382. BHARTI8TH DEC. ACC(1478.15) On Charts, the stock has made a “Dark Cloud Cover” Pattern. Because this pattern only occurs in an uptrend, the first day is a long white day. This is one of the few times that the high or low is used in candle patter definitions. Trading lower throughout the day results in the close being below the mid-point of the long white day. This reversal pattern has a marked effect on the attitude of traders because of the higher open followed by the much lower close. Japanese call this pattern KABUSE which means to get covered or to hang over. SELL with a Stop Loss of 1487 and a targt of 1456 and 1435. ACC8THDEC. INFOSYS ( 1970.15) Today the scrip opened a gap low and closed at almost lowest point of the day with good volumes. It closed below its 50 Day and 100 Day Moving averages. The momentum fell much below Zero level. RSI fell to almost 30 levels and Stochaistics fell to 20 levels. This all happened with very high volumes, which is a bearish indication. SELL with a Stop Loss of 2007 and a target of 1945 and 1921. RELIANCE INFRASTRUCTURE ( 621.10) On Charts, the scrip has made an “Identical Three Crows” Pattern, which is a bearish reversal pattern. This pattern resembles a panic selling that should cause additional downside action. Each day’s close sets a benchmark for opening prices the next trading day. There is a total absence of buying power in this pattern. SELL with a Stop Loss of 579 and a target of 564 and 555. REL INFRA8THDEC. Some other recommendations are: CIPLA(651.90) BUY with a Stop Loss of 643 and a target of 657 and 663. L&T FINANCE(73.25) BUY with a Stop Loss of 70 and a target of 76. ONGC(368.30) Buy with a Stop Loss of 363 and a target of 372 and 376. SUNPHARMA(827.80) BUY with a Stop Loss of 818 and a target of 838 and 848. Read more a2analysts/
Posted on: Tue, 09 Dec 2014 04:01:58 +0000
Trending Topics
Recently Viewed Topics
© 2015