Price Patterns - A technical analysis series of fiancial markets by DK for beginners

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Check out our views dated 16th Nov 2018 on USDINR with present price & trend

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Stock Idea : VODAFONE IDEA on NSE (INDIA) post market closing on 27th Nov 2018

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Will Coal India offer an earning opportunity?

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STOCK IDEA : HDFC on NSE (INDIA)- A technical analysis series by DK

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Views on NIFTY on NSE (INDIA) : Weekend closing on 22nd Nov 2018

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STOCK IDEA : BEML - A weak stock

This is technical view on BEML on NSE (INDIA) currently trading at 700.45 (weekly close on 16th Nov 2018). Based on observations made on weekly chart, it looks very weak and offers a good shorting opportunity according to my opinion.

1. The stock is in downtrend and price is trading below all important moving averages and EMA20 & EMA50 are sloping down. 

2. A horizontal line (at price of 818) drawn on the chart shows multiple supports and resistances marked by arrows.

3. It is continuously falling after making a high (1947) in the 1st week of Sep 2017 and counter trendline drawn is being respected even now which indicates that price is finding resistance the moment it retraces and then down trend resumes.

4. Now, it has retraced to EMA20 and price indicated rejection in the last week that closed on 16th Nov 2018. This level of rejection also coincides with retracement level 61.8% and also from near trendline acting as resistance (kindly refer enlarged view of chart for recent price action)

5. RSI (14) indicates poor momentum. It is also observed that it has found resistance from 40 at earlier occasion and now shows moving down once again from 44.

In view of above, it is likely to move down in coming days where stop could be above EMA20 in weekly time frame for a short trade.

This is not a stock recommendation for trading. You must appreciate that trading is quite risky. This is being posted to share my view points based on technical inputs as explained above for interaction/cross learning and for educational purpose only

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This is weekly chart of DABUR on NSE (INDIA) with CMP at 395.65. Based on technical analysis, following observations indicate that it is an excellent investment opportunity.

1. A trendline drawn on the chart with multiple supports (shown by arrows) indicate that stock is in up trend and this trendline has been respected since May 2012.

2. Now the price has taken support nearly at 364 which was the resistance level earlier during October 2017 till April 2018.

3. RSI (14) shows multiple supports at 40 and tendency to bounce back. Now, RSI has taken support at 40 and shows upside bounce.

In view of above, it looks a good opportunity for an investment with stop at 308 which is just below the earlier resistance (acted as support now) shown by a horizontal line on the chart & marked as IMPORTANT SUPPORT. This stop considered is also below established trendline as explained above.

This is only to share my idea /viewpoints based on technical analysis and it should be considered as recommendation to invest or trade.