Technical Predictions for 19th Oct October 18, 2014 by Ashok Goel·0 Comment NIFTY(7779.70) The Nifty today made a low of 7723.80, but closed at 7779.70 above its 100 Day moving average. Momentum is below Zero at -173. Stochastics is still below at 20 levels, RSI is at 30. Overall nifty is still in a bear stage. On candelsticks , it has made a bearish thursty pattern. It may open high and go down later on. It has to close above 7850 to show strength. The policy is to sell on every rise or BUY if nifty is closing above 7850. The bearish thursting pattern represents a failure to rally in a down market. Because of this failure, the bulls will be discouraged in a lack of buying and will allow the downtrend to continue. This is a sell on rally market. SELL with a Stop Loss of 7852 and a target of 7720. BUY only if closing is above 7850. TATA ELXSI(582) Momentum is below Zero at -44. RSI is at 30 levels. Stochastics are below 20. Stock price has gone below to 100Day moving average. On Japanese Candlesticks it has made a pattern just opposite “Delebration”, which is a bullish pattern. So, this pattern has to be bearish. SELL on every rise SELL. with a Stop Loss of 594 and a target of 570.tataelxsi27oct YES BANK(598.30) Momentum is above Zero level and positive. OBV is rising indicating more money is being invested in the market. RSI is above 50 and Stochastics are at 80 levels. The stock is trading above its 14Day and 21 Day Moving averages. On Japanese Candlesticks it has made three white soldier pattern, which indicates bullishness. BUY with a Stop Loss of 580 and a target of 612. TECH MAHINDRA(2273) It has made a “Hammer” pattern on Japanese Candlesticks chart. The scrip has been in a downtrend, So there is an air of bearishness. The market opens and sell off sharply. However, the sell off is abated and the market returns to or near, its high for the day. The failure of the market to continue the selling reduces the bearish sentiment, and most traders will be uneasy with any bearish positions that market have. If the close is above the open. causing a white body, the situation is even better for the bulls. Confirmation would be a higher open with yet a still higher StopLoss of 2248 and close on the next trading day. Be careful, the scrip is also in a oversold situation. A bounce back seems to be imminent. BUY with a Stop Loss of 2500 and a target of 2340.techmah17oct\ SBI(2521.20) The scrip has moved above its 21 Day and 50 Day moving averages. Momentum is above Zero at 90 levels. OBV has also started rising. RSI has moved to 50 levels and Stochastics is also moving from 50 to 80 levels. The stock is rising continously after making a double bottom at 2340. BUY with a Stop Loss of 2500 and target of 2560 Read more a2analysts/
Posted on: Sun, 19 Oct 2014 11:34:18 +0000
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