India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
9am with Emkay |
18 January, 2011 |
n Technical Comments
“Doji star” at 200-DSMA
Nifty closed an extremely choppy session on a flat note, and was seen hovering around the 5650-mark, for the entire trading session. Furthermore, Nifty has formed a “doji” (meaning lack of conviction by sellers to maintain the downtrend) at the star position, hence named as “doji star”. “Doji star” is a potent warning that the prior trend is apt to change. However for confirmation, the session after the doji should be followed by a long, white real body that closes well into the black real body of the previous session. Moreover, this “doji star” seems to hold a fair piece of importance as it is witnessed, virtually at the support of 200-daily simple moving average. Hence, for final confirmation one should wait for Tuesday’s close and should not jump the gun before that.
Bank Nifty:
Bank Nifty settled with a positive close after a fairly choppy session. However, in the presence of positive divergence on intraday time frames a bounce can surely be witnessed. But here too, for confirmation one should wait for a move above 10,610-level.
n Results Today
Bajaj Fin. | Bajaj Finserv | Cadila Health. | Container Corpn. | Dev.Credit Bank | Exide Inds. |
GAIL (India) | H T Media | Indbull.RealEst. | Indiabulls Power | ING Vysya Bank | Mastek |
Mindtree | NIIT Tech. | Opto Circuits | Petronet LNG | Prism Cement | St Bk of Mysore |
Tata Elxsi |
No comments:
Post a Comment