Dena Bank..Technical Analysis

Dena bank has came out from it's trading range which it was forming from past 2 month or so. A scrip good to watch now....


Cheers
Chirag CM

Amar Remedies: A breakout.

Amar Remedies has given a superb breakout with good volumes. It has thrashed its previous highs which were made in early Feb. Stock has potential to go 20 more bucks up.

One can initiate the trade considering 154 as a strict stop loss.

Cheers
Chirag CM

Castrol..Inverse Head & Shoulder Pattern

A superb IHNS formed by CASTROL in recent days. Continuation of this rally may lead stock up to 580 levels.

Cheers
Chirag CM

Candlestick Patterns- Part -1

Even though the structure of candlesticks is different from that of bar charts, it is easy to combine candlesticks with the technical chart analysis. By focusing on the relationship between open and close prices, candlesticks show how market forces change during market hours. This often indicates the short-term momentum in different products or markets. 


Candlestick charts are based on the same market data as regular bar charts but present that data in a different way. The components of candlestick charts are the opening price level, the closing price level, the high price, and the low price of any data compression rate, be it weekly, daily or intraday data.


I've found one interesting video which is very interesting at the basic level.

I will try to include more insights in Candlestick pattern.




Cheers
Chirag CM