More pain in SBI, penetration pattern not confirmed.

Looks like SBI has some more downside left off. It formed a penetration pattern yesterday with decreasing volumes, but today despite RBI bond buying the confirmation of the pattern is not done.

Yesterday at tradingkamai office we where feeling very high seeing the penetration pattern with decreasing volumes but today’s non-confirmation has kept us completely on hold.

So let’s wait for some more pattern formations but with confirmation for a safe trade. So for now stay away until the pattern is formed/confirmed.

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Is DLF ready for uptrend ?

DLF is looking awesome. It is near its one year support line , it has indicated a piercing pattern followed by DOJI.

We had given a call of Godrej industries it still going good. So hold Godrej in the short term for  a decent gain.

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Hammer and confirmation for Godrej industries ?

We have noticed godrej forming a hammer pattern on monday with a conformation of a bull today. Today godrej is in +ve signal. Normally when nifty is moving in a downtrend its very tough to give buy calls. So trade cautiously with a strict stoploss.

you can see the video on ITC and Techmahindra analysis
http://tradingkamai.blogspot.in/2013/06/itc-and-techmahindra-stock-analysis.html

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ITC and techmahindra stock analysis ( Technical Analysis)

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Is JM Finance ready for a down trend ?

JM Finance was in a  short term uptrend. But the format of Shooting star is a sign that probably this a end of this short term rally. A shooting star indicates that the stock wanted to move up but the sellers then contained it at a lower rates.

So in the coming days avoid any long ( up ) positions in this stock.

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Will Nifty respect Inverted hammer on monday?

For past 1 week nifty was clearly in a down trend,on friday it has formed a inverted hammer,so a green signal on monday is probably as sign of reversal for a short term....Waiting for confirmation on Monday morning.

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Infosys , Decreasing volume/ Price & Inverted hammer

Recently we saw how infosys respected reducing volumes and reducing price pattern. When the price is reducing and at the same time the volume is also reducing it means that many people are reluctant to sell the stock at less cost. If you see the infosys chart it clearly followed the same.

At the upper side the down trend was seen  with a inverted hammer.So for now this stock is likely to move down in short term.



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Nifty Cipla Technical Analysis

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Is Nifty following hammer and Inverted hammer ?

With every downtrend , after a hammer nifty moves to uptrend. And with every uptrend , after a inverted hammer nifty moves down trend.

So is Nifty following hammer and inverted hammer pattern.

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Technical analysis of Sanghvi movers

In the previous week we talked about Sanghvi movers and below is the update about the stock from chart patterns aspect.

1. There are was a down trend.
2. This down trend was halted by indecisive Doji.
3. On Friday it was confirmed by a hammer formation.
4. We expect this stock to rally to  70 in the coming 2 weeks.

Call for stock market technical analysis training at 9967590707.

You can see our video on technical analysis at http://www.youtube.com/watch?v=iAExE1fbh5k 

See syllabus for Technical analysis training in Mumbai,India.

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