View on Tilaknagar and Escort!

Escort

Stock is trading at 70.30.
Is trading between a range of trendline.
MACD is sideways and has cross upside a bit.
RSI is crossing downside.
If holding for a medium stoploss of 65-66 on closing basis
and for long term SL of 60-61.


 Tilaknagar.

Trading at 75.95.
Is trading between at triangle.
Breakout of triangle will give a clear picture of trend.
Keep and eye on breakout and trade with the trend.
Resistance at 76-77 and Support at 72.


Regards

This is my personal view. Please consult your adviser before investing.

Gold looks bullish!!!!

As i posted in my earlier post the two possible movement in gold.

Gold alternative count!

Gold came down as expected

Now gold have came down and touched the low of 1635$.
Wave A = Wave C.
Price have retraced 61.8% of may 2012 to oct 2012 rally.
Strong multiple support can be seen at the lower level
This will be end of Wave 4. Wave 5 have started and from here we can see a up move in the price of gold.
CCI is making higher low.
RSI is moving upside.
MACD is narrowing.

Technical View of Stocks!!

Below are the stock which are changing their trend and good movement of price can be seen.

Crompton Greaves

 Trading at Ascending Trendline.
Support at 110-110 level
Histogram level in MACD is decreasing indicating change in trend.
RSI moving sideways.
upside resistance 117-122

 Hindalco

 Completed Head & Shoulder pattern by crossing the neckline.
MACD is indicating upside.
RSI crossing downside.
Support of neckline at 126-127 level.
Upside resistance133-140.

Karnataka Bank

Trading at Ascending trendline.
MACD is narrowing from  0 level.
RSI is also turing upside.
Volume is not supporting the change in trend so keep an eye on this stock.

 ONGC

Stock took support at 256 twice.
MACD is moving up from the current level.
RSI crossed upside.
Volume is also supporting the current level.
Upside resistance at 265-272.

Sterlite

Trading at 115 for past 2 -3  days.
MACD crossed downside but moving sideways now.
RSI  as well crossed the signal line downside.
Breaking of this level can bring the stock to 108-98.



Regards

This is my personal view, please consult your adviser before investing.

Nifty strong support at 5840 for short term!!

Strong support at 5480 for short term.
Closing below this level can see downfall this 5800-5810.
Resistance at 5950

Medium term
Medium is still positive as support lies at 5840-5686
If sustain the resistance is 5950-6080.

Divergence in MACD and RSI in daily chart.
Both the indicator have crossed the signal line downside.
But if market moves side was then this indicatorcan turn up in coming days.


Please consult your adviser before investing.

Regards