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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All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.






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2 comments:

  1. செவ்வானம்30 March 2013 at 21:36

    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.....

    http://s1273.photobucket.com/user/vijayan143/media/ADANIENT_zpsb8cca481.png.html

    ReplyDelete
    Replies
    1. Pattern Trading30 March 2013 at 21:44

      Hello ...

      shorts were adviced in adani... http://priceandvolume1.blogspot.sg/2013/03/chart-update-adani-enterprise.html 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

      Delete

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