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What the technical charts say

This article was posted on Aug 29, 2009 and is filed under Stock Views

MUMBAI(UTVI): A bearish stick has been seen in Educomp after three days of trade.

The stock has been trading above the Daily Moving Average (DMA) level for the fourth day.

Here are a few more technical details about the stock and nine others.

Educomp

Bearish stick seen after three days of trade
Stock trading above DMA levels for the fourth day
Trade above DMA indicates strength in counter
“Bollinger Band” indicates support at Rs 3900 levels
“Bollinger Band” indicates resistance at Rs 4300 levels
Stock retraced from intraday high of Rs 4300 levels
Retracement from highs indicates strong resistance at Rs 4300 levels
MACD trades in positive zone on a weekly basis
Positive MACD indicates strength in counter
“Oscillator” seen turning into positive from negative territory
Positive “Oscillator” indicates strength in counter

Shree Renuka

“Bullish Engulfing Pattern” seen in trade yesterday
“Bullish Engulfing Pattern” pared previous day’s losses
“Bullish Engulfing Pattern” indicates strength, going forward
Stock trades above DMA levels since July 17
Trade above DMA indicates strength in counter
“Bollinger Band” indicates support at Rs 181 levels
“Bollinger Band” indicates resistance at Rs 191levels
“Rate of Change” trades in positive from 23 July
Positive “Rate of Change” indicates strength in trend
MACD trades in positive zone on a weekly basis
Positive MACD indicates strength in counter

Polaris

“Doji” Pattern seen in trade yesterday
“Doji” Pattern indicates lack of direction by traders
Stock closing above DMA levels from July 15
Close above DMA indicates strength in counter
“Bollinger Band” indicates support at Rs 135 levels
“Bollinger Band” indicates resistance at Rs 150 levels
Stock retraced from intraday high of Rs 150 levels
Retracement from highs indicates strong resistance at Rs 150 levels
MACD trades in positive zone on a weekly basis
Positive MACD indicates strength in counter
RSI trades above 70 levels since Aug 23
RSI above 70 indicates stock in overbought territory

DLF

Bullish stick seen for fifth consecutive day
5 days of bullish sticks indicate strength in counter
Stock trading above DMA levels for the fourth day
Trade above DMA indicates strength in counter
“Bollinger Band” indicates support at Rs 385 levels
“Bollinger Band” indicates resistance at Rs 410 levels
MACD trades in positive zone on a weekly basis
Positive MACD indicates strength in counter
“Oscillator” seen turning into positive from negative territory
Positive “Oscillator” indicates strength in counter

India Cement

“Doji” Pattern seen in trade yesterday
“Doji” Pattern indicates lack of direction by traders
Stock closed above DMA levels since July 15
Close above DMA indicates strength in counter
“Bollinger Band” indicates support at Rs 120 levels
“Bollinger Band” indicates resistance at Rs 135 levels
“Rate of Change” seen turning negative from positive territory
Negative “Rate of Change” indicates weakness in trend

KS Oils

Bearish stick seen after five days of trade
Stock closed above DMA levels for sixth day
Close above DMA indicates strength in counter
“Bollinger Band” indicates support at Rs 55 levels
“Bollinger Band” indicates resistance at Rs 58 levels
“Rate of Change” seen turning negative from positive territory
Negative “Rate of Change” indicates weakness in trend
MACD trades in positive on weekly basis
Positive MACD indicates strength in counter

JP Assoc

Bearish stick seen after five days of trade
Stock closed below DMA levels since Aug 7
Close below DMA indicates weakness in counter
“Bollinger Band” indicates support at Rs 195 levels
“Bollinger Band” indicates resistance at Rs 222 levels
MACD trades in positive zone on a weekly basis
Positive MACD indicates strength in counter
“Oscillator” seen turning into positive from negative territory
Positive “Oscillator” indicates strength in counter

Satyam

“Bullish Engulfing Pattern” seen in trade yesterday
“Bullish Engulfing Pattern” pared previous day’s losses
“Bullish Engulfing Pattern” indicates strength going forward
Stock trades above DMA levels since July 17
Trade above DMA indicates strength in counter
“Bollinger Band” indicates support at Rs 181 levels
“Bollinger Band” indicates resistance at Rs 191levels
RSI trades above 70 levels since Aug 23
RSI above 70 indicates stock in overbought territory

Orchid Chemicals

Bearish stick seen after 3 days of trade
Stock trades above DMA levels for third day
Trade above DMA indicates strength in counter
“Bollinger Band” indicates support at Rs 105 levels
“Bollinger Band” indicates resistance at Rs 115 levels
Stocks ended above 115 levels for second day
Trade above Rs 115 indicates breakout in stock
RSI trades above 69, highest in last one month
RSI above 70 indicates stock in overbought territory

Hindutan Oil Expl

Stock witnessing upper circuit since Aug 17

source: UTVI

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