Technical Predictions for 19th Nov. November 18, 2014 by Ashok Goel·0 Comment NIFTY(8425.90) What we have been seeing in this bull phase, that after every rise, the Nifty consolidates for a while and then continues its journey upwards. This is a very healthy situation for the markets. Today again after rise yesterday, it consolidated for the whole day. On Charts it has made “Bullish On Neckline” pattern. This also resembles a “Bullish Thursting” pattern with a little difference. This pattern starts with a white candle, The midpoint of the range of the first day is above 10-period moving average. This means that an up trend has been in place. Bullishness is increased with the long white first day. The market gaps up on the second day but cannot continue the advance. Although the market declines somewhat, it is stopped at or near the previous day’s high. This must be uncomfortable for any shorts who got into the market that day. The uptrend should continue. Continue your long position with a Stop Loss of 8380 and a target of 8490.nifty18thnov. ASIAN PAINTS(700.90) The stock has made a “Bearish Deliberation” pattern on the charts. This pattern is also similar to “Advance Block” pattern also. The first two long white candlesticks make a new high and are followed by a small white candlestick or a star.This pattern is also called a stalled pattern in some literature. This pattern exhibits a weakness similar to the Advance Block pattern in that it gets weak in a short period of time. The difference is that the weakness occurs all at once on the third day. The Deliberation pattern occurs after a sustained upward move and shows that trends cannot last forever. As with the Afvance Block, defining the deterioration of the trend can be difficult. SELL with a Stop Loss of 707 and a target of 687. Keep a strict stop loss as the Oscillators are in ovebought situation. asianpaint 18thnov. ITC(370.25) The stock traded with good volumes today. RSI has crossed 70 levels from below. Stochastics also have crossed 80 levels from below. OBV is also rising, indicating more flow of funds in the market. The stock has been consolidating at this level from last few days. It is also trading above all its moving average. It looks the scrip is waiting to make its next move upwards. If it trades above 371 with good values, then BUY ITC with a Stop Loss of 366 and a target of 380. V>GUARD(985.05) The RSI has today crossed its 70 levels from below. The Stochastics has also crossed 80 levels from below. Momentum has started rising. It rose from below zero level to 69, which is a very bullish sign. MACD line has also crossed its signal line on the above side. There has also been spurt in volumes from yesterday. The scrip has also crossed its 14 Day moving average on the above side. BUY with a Stop Loss of 973 and a target of 1000. 2014Nov-V-GUARD IND LTD. Read more a2analysts/
Posted on: Wed, 19 Nov 2014 05:55:30 +0000
Trending Topics
Recently Viewed Topics
© 2015