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Monday, October 31, 2011

Look at a few stocks.

The volume action looks good for this one to be classified as a genuine double top. The stock should promptly return to 70 level.

TATA MOTORS --Nice Touch of the Broken  Trend line . Also 50% retrace of previous fall. Momentum LOSS. This one should be SELL.

This stock is forming a Symmetrical triangle . The thing here we are not sure which way the break out will occur. Its striking the Trend line . If it breaks the Trend line with HUGE volume , its a buy .  Just watch now. Break out should be very near

Sasken :::BEAR FLAG

REPRO ----  Double TOP  in this one .  Should come down to 130.

JUBILANT FOODWORKS.::-It had a very good ride . but now the charts look DEADLY BEARISH . HnS pattern can be seen with DROPPING NECKLINE . Though HnS is not confirmed  till now , its better to NOT HOLD  this one . It had found support in its long term Trend line .  it might not this time . This one is UGLY . This should target 350 levels. 

HeroMotors. --Double TOP. Bearish Reversal Candle at TOP.  What else do u need to make up your mind to sell.

HCL Tech . A classic RETEST of the TREND LINE . After the Head and Shoulders break down . Now a DARK CLOUD cover at overbought levels.

Gitanjali :--- people holding this one must be paying attention . though VOLUME action is not very clear , I still consider it as DOUBLE TOP . It has a higher chance of breaking the TREND LINE this time . Huge volume sell-off.

FORTIS :-- This one could be bought with a target of 144.

Canara Bank-- BEAR FLAG .

BEML should target 700. WolfeWAve target red line.


  1. Jonak,

    VIP had a 5:1 split, plz update your chart. It'll look a little bearish in med-term.