Monday, January 11, 2010

Bhartiartl, STC India

Bhartiart:
Trendline Breach: The stock has breached the rising trendline, and can be seen as an ideal short candidate. Refer chart below:
The stock has closed at 325, below its 55 EMA @ 327.01, with EMA 5 @ 326 & EMA 13 @ 325. The next immediate EMA support is at EMA 34 @ 321.78. The stock is still weak since it is below its 89 day SMA. On weekly basis, the stock is below its 13 Week EMA which stands at 328, while all other EMAs are stacks between 350 to 365. The 5 week EMA is now at 322.53.

Bhart Artl : Chart 1




The stock on longer terms charts is makingan in Head Shoulders pattern with neckline at 275. A breach of neckline could propel the stock to a plunge to Rs. 145 level.
Bhartiartl : Chart 2 : HnS possible


STC India:


STCINDIA (nse ticker) has given an upward breakout. The stock based on Rectangular pattern breakout can reach 542 and based on Bullish Flag Breakout can reach 726. The stop loss for this Long trade shall be Rs. 380 zone.

STCINDIA: Chart 3 : Rectangle BO / Flag / Inv HnS

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