ShareChart is formed to stock analysis, to assist
people, to trade stocks. It provides powerful
technical analysis tools and fundamental news for both traders and investors.
N Chandrababu Naidu Launches 'Praja Galam' As Part of TDP’s Election Campaign
sharechart Technical Newsletter vol-1 issue-7
1. DEVELOPMENT BANK SUB-INDEX ANALYSIS DESCRIPTION
Banking Index Development Index Finance Index Hydropower Index Insurance Index
SHARE CHART
Vol. 1 Issue 7
R2 -1113.90
R1 -1109.92
Pivot -1105.70
S1 -1101.72
S2 -1097.50
R2-1164.1
R1-1193.1
Pivot- 1171.23
S1-1163.94
S2-1149.36
R2-584.36
R1-583.93
Pivot -583.72
S1-583.29
S2-583.08
In our previous edition of newsletter , we indicated
HydroPower Sub-Index chart pattern consolide or
downtrend .As we are analyzing development bank sub-index
,we saw Rising Wedge Pattern with up trend black is index
line which move 776.70 on 31 july 2014 to 1083.87 on 31 dec
2015 within 1 and half years increase by 307.17 index.Rising
Wedge pattern is a bearish patten that begins wide at the
bottom and contracts as index move higher and the trading
range narrows.But this typiyally occurs following a correction
lover within an uptrend or after a consolidation phase ,it will
break upwward too.
This indicates DEVELOPMENT BANK SUB- INDEX
moving on bullish trend trageting 1200 or 1350, Stop
point below 1100
TECHNICAL NEWSLETTER
R2-2173.93
R1-2163.02
Pivot -2157.57
S1-2146.66
S2-2141.21
R2-5540.74
R1-5489.25
Pivot -5456.40
S1-5404.91
S2-5372.06
Date: 01/21/2016
Click To Subscribe
Current Sub-Index
1178.5
ARANIKO DEVELOPMENT BANK LTD (ARDBL) DESCRIPTION
Contact Us:
Email: sharechart2015@gmail.com
R2 -1113.90
R1 -1109.92
Pivot -1105.70
S1 -1101.72
S2 -1097.50
R2-1164.1
R1-1193.1
Pivot- 1171.23
S1-1163.94
S2-1149.36
R2-584.36
R1-583.93
Pivot -583.72
S1-583.29
S2-583.08
Kamalpokhari Mob:- 9801140245
The above figure shows ARDBL with ROUNDING BOTTOM PATTERN FORMATIOM.
Note:This newsletter(sharechart) provides impersonal educational stock trading
information . All material presented within is not to be regarded as investment advice,
but for general informational purposes only.
R2-2173.93
R1-2163.02
Pivot -2157.57
S1-2146.66
S2-2141.21
R2-5540.74
R1-5489.25
Pivot -5456.40
S1-5404.91
S2-5372.06
ARDBL,The stock has been flagged up
by our Mechanical Trend Following
Strategy Screener. It is also on the
verge of breaking from a rounding
bottom Formation.,It also known as
saucer bottoms, are long-term
reversal patterns .The general rules
are that the pattern must be
preceded by a down-trend, usually
form an identifiable peak in price as
it tries to gain again.fail to do so, and
then form a new low. The price will
then move sideways for a long period
of time before gently beginning to
rise again.
Buy at Rs.202-225
Target at Rs.260-280
Stop-loss at Rs.Below 200
Email: sharechart2015@gmail.com
Kamalpokhari Mob:- 9801140245