Saturday, February 9, 2013

Rpower - Technical Update

  1. Rpower has been forming a descending triangle, since Oct high.
  2. Prices have resolved on the downside, with a clear break down below the lower boundary of the triangle.
  3. The target for this pattern comes around 69, but an important low is at 75.2. So support can be expected in this range of 75-69.
  4. Keep an eye on the Nifty, for what broader market is doing.

2 comments:

  1. Dear Aniruddha Sir,

    Good work as usual. Kindly put some light on United Spirits. I think technically this stock is on the verge of huge breakout.

    Thanx and regards,
    Sreyoskar

    ReplyDelete
    Replies
    1. Dear Sreyo,
      Thanks for the appreciation. I will take a look at the counter as soon as possible.
      Regards
      Aniruddha

      Delete

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