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May 24, 2010
Weekly stock watch Name
Bias
Targets
Support
10DMA
20DMA
CMP
Bajaj Hindustan
Up
110/118
98/106
109
115
103
Rel Infra
Up
1040/1100
945/1025
1006
1048
985
Century Textiles
Up
470/510
415/455
468
490
441
Bias
Targets
Resistance
10DMA
20DMA
CMP
Down
148/140
151/161
161
163
155
Container Corp of India Down
1210/1140
1250/1360
1307
1318
1290
Weekly stock watch Name Indiabulls Real
Bajaj Hindustan
215 210
The stock has formed a falling wedge pattern and has also taken support at the lower end of the pattern.
205 200 195 190 185 180 175 170 165 160 155 150 145 140 135 130 125 120 115 110 105
100 8
15
22
2 March
8
15
22
29
5 April
12
19
26
3 May
10
17
24
For Private Circulation only Sharekhan Ltd A-206, Phoenix House, 2nd Floor, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, India.
31 June
The second coming
Braveheart’s best
Century Textiles & Industries
570 565
The stock has completed a 5-wave decline and has given a positive close. It is expected to bounce 38.2% of the retracement level. The stock has formed an ending diagonal on the hourly chart, so it is expected to shoot upwards.
560
100.0%
555 550 545 540 535 530 525 520 515
61.8%
510 505 50.0%
500 495 490
38.2%
485 480 475 470
23.6%
465 460 455 450 445 0.0% 440 435 15
22
29
5 April
12
19
26
3 May
10
17
24
31 June
Reliance Infra
1175 1170 1165 1160 1155 1150 1145 1140 1135 1130 1125 1120 1115 1110 1105 1100 1095 1090 1085 1080 1075 1070 1065 1060 1055 1050 1045 1040 1035 1030 1025 1020 1015 1010 1005 1000 995 990 985 980 975 970 965 960 955 950 945 940
The stock has formed a falling wedge pattern and has also taken support at the lower end of the pattern.
6
7
8
9
12
13
15
16
19
20
21
22
23
26
27
28
29
30
3 4 May
5
6
7
10
11
12
13
14
17
18
19
20
21
22
Container Corporation of India
1530 1520 1510 1500 1490 1480 1470 1460 1450 1440 1430 1420 1410 1400 1390 1380 1370 1360 1350
The stock has formed a flag pattern and has also taken resistance at the lower end of the pattern. It has also given a breakout on the down side. The momentum indicators on the daily chart have given negative crossover.
1340 1330 1320 1310 1300 1290 1280 1270 1260 1250 1240 1230 1220 1210 1200 1190 1180 1170 1160 1150 8
15
Sharekhan
22
2
2 March
8
15
22
May 24, 2010
29
5 April
12
19
26
3 May
10
17
Home
24
31 June
Next
Braveheart’s best
The second coming
Indiabulls Real Estate
310
The stock has formed a triangular pattern and has also broken down. Hence we maintain our bias down.
300 290 280 270 260 250 240 230 220 210 200
190
180
170
160
150
140
7
24
31 7 14 September
22 29 12 October
20 26
3 9 16 November
23
30 7 14 December
21 29
11 2010
18
25 1 8 15 February
22
2 8 March
15
22 29 5 12 19 April
26
3 10 May
17
24
31 Jun
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Sharekhan
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May 24, 2010
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