Saturday, 30 March 2013

Chart Update : Bharat Forge

 Bharat forge weekly:

Bharat Forge daily:

Bharat forge took support at bottom of blue price channel. Script has hammer formation on weekly chart and closed at 5 week low SMA.  On Daily chart we have bullish engulfing candle with huge positive divergence in RSI. Trend line resistance is at 211 and 5 day high SMA is at 210, Daily close above 211 will make share buy on dips for target of 218 & 225 sl 207.

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  1. Dear sir,
    Im a regular reader of ur blog.
    I took a call of ADANIENT.but I took loss at d call.I mentioned d buying price in blue line.
    All d indicators shown in +ve divergence and d pattern I felt was inverted adam and adam.
    Sir,Would u Plz help me where I did d mistake........?
    Thank u,sir.....

    1. Hello ...

      shorts were adviced in adani... as 5th wave was pending ...

      YOur Inverted head and shoulder pattern is not correct... Please try to draw price channel it will help you a lot