ITC : Breakdown

ITC broke down from the range its was trading for last four months, now it could target 152.

Nifty Monthly Chart

Nifty formed a bearish engulfing pattern on monthly charts, indicating further decline in coming months.

Look at Small Cap Sector

Small Cap sector has broken down below the neckline of  head and shoulder pattern formed,  it could now target 6730, so one should avoid buying small cap stocks.

M&M : Double Top

M&M formed double top at 800 and is trading below 722 so now it could target 650.

Cipla : Bearish Flag

Cipla made a bearish flag which could take the stock to 318.

Reliance : Ready For a Breakdown??

With primary trend being down, many stocks which were trading in a range have started to break down......Reliance the big daddy of Indian stock market is also trading at lower end of its range in which it is stuck for more than one and a half year.Today it broke an important support of 957.........so it would be interesting to see if reliance is able to hold 917 levels............. because once it breaks that level we could see 750-700  in reliance.

Update : HUL

HUL reached its first target of 270 given in last post.

Hindustan Unilever Ltd : Short Candidate

Hindustan Unilever was trading in a range since last 4 month, after poor earnings the stock broke down and it could now target 270-262. One could keep a stop loss of  above 290 on closing basis.

Nifty :breakout??

Today morning nifty gave a breakout from trading range in which it was stuck for last six trading sessions, so now if breakout sustains nifty could see 5860.
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EOD Update

Breakout failed as nifty again entered the trading range.

Nifty : In a Range

From last four trading sessions nifty has been trading in a range between 5630-5750, breakout or breakdown from this range could provide trading opportunity.

Cipla

Cipla has been trading in a range of 338-380,so one could buy it for 380 with stop loss of closing below 338 for couple of days.

Nifty : Descending Triangle

Nifty has formed descending triangle on daily charts,it could now target 5300.A couple of closes above 5750 or side ways movement would weaken the pattern.

Nifty

Nifty held the support at 5750, as markets are quite oversold now so one could see a technical bounce back from here.

Nifty Weekly Chart

Nifty has formed a bearish engulfing pattern on weekly scale indicating further fall, last time when same pattern was formed in November nifty fell more than 350 points after that.

Sectoral Performance in 2010

20 Worst Performing Stocks in 2010

20 Best performing stocks in 2010