Blog Posts - Double-bottom



Sensex, Nifty charts (Dec 09, 2016): bulls assert themselves but bears still on top

FIIs and DIIs were bullish during a week when volume of transactions dipped 17.5%. FIIs were net buyers of equity worth Rs 9.37 Billion; DIIs were net buyers of equity worth Rs 2.97 Billion, as per provisional figures. Both Sensex and Nifty gained ab...

Is this a good time to enter SBI stock? - a technical update

The previous technical update to the stock chart pattern of State Bank of India (posted on Apr 2013) contained a bearish view for the following two reasons:(1) formation of a head-and-shoulders reversal pattern with a downward target of 155 (adjusted...

Stock Chart Pattern - Great Eastern Shipping (an update)

These were introductory comments in the previous post on Great Eastern Shipping 7 years ago: "Fundamentally strong, with very good profit margins, strong cash flows from operations, low P/E ratio, regular dividends - all the hallmarks of a stock that...

Nifty chart: a midweek update (Jun 08 '16)

A  delayed monsoon and an upside risk to CPI inflation were the probable reasons why the RBI Governor kept repo, reverse repo and CRR rates unchanged during yesterday's policy announcement.Though the move was widely anticipated by economists and...

Sensex is recovering after a year-long bear phase; which sectors will lead the next rally?

After touching a lifetime high in Mar '15, Sensex entered a down trend which has not yet been reversed after 13 months. However, the index has formed a small 'double bottom' reversal pattern in Feb '16 and been in a recovery mode since then.Almost al...

Stock Index Chart Patterns: S&P 500 and FTSE 100 – Mar 18, 2016

S&P 500 index chartThe daily bar chart pattern of S&P 500 shows a pullback towards the 200 day EMA during the first two days of the week, which was used by bulls to buy. The index surged past the 2050 level intra-day with stron...

Nifty chart: a midweek update (Mar 16 '16)

FIIs have been net buyers of equity worth Rs 1600 Crores this week, as per provisional figures, despite net selling of Rs 54 Crores on Tue. Mar 15. DIIs have been net sellers on all three days - their sales totalling almost Rs 1800 Crores.W...

BSE Sensex and NSE Nifty 50 index chart patterns – Mar 04, 2016

The Finance Minister stuck to the fiscal deficit target of 3.5% of GDP, and maintained status quo on long-term capital gains tax on equity holdings in his budget proposals. FIIs were reassured - despite lack of clarity on retrospective taxation...

Nifty chart: a midweek update (Mar 02 '16)

During Feb '16, FIIs were net sellers of equity worth Rs 12500 Crores. DIIs were net buyers of equity worth Rs 10500 Crores. Nifty touched a new 52 week low of 6826 on the last day of the month and closed with a 7.6% loss for the month.Budget proposa...

Stock Index Chart Patterns: S&P 500 and FTSE 100 – Feb 26, 2016

S&P 500 index chartThe daily bar chart pattern of S&P 500 crossed above its 50 day EMA and touched a high of 1963 on Feb 26 '16, but formed a small 'reversal day' pattern that can end the rally from the Feb 11 low of 1810.By moving above...

Stock Index Chart Patterns: S&P 500 and FTSE 100 – Feb 19, 2016

S&P 500 index chartPlease note the following remarks from last week's post: "If S&P 500 continues to rally with good volume support and crosses above its Feb 1 top of 1947, a 'double bottom' reversal pattern will get technically con...

Stock Index Chart Patterns: S&P 500 and FTSE 100 – Feb 12, 2016

S&P 500 index chartThe following comments appeared in last week's post on the daily bar chart pattern of S&P 500: "All three EMAs are falling, and the index is trading below them in bear territory. The Jan 20 low of 1812 is likely to be teste...

Stock Chart Pattern - LIC Housing Finance (an update)

The previous post was written more than 5 years ago after the company's stock suffered a big sell-off following reports that top officials were involved in a major bribe-for-loan scam.Several officials alleged to be involved in the scam, in...

BSE Sensex and NSE Nifty 50 index chart patterns – Jan 29, 2016

Stock markets worldwide reacted bullishly to economic stimulus announcements by ECB and China and a cut in interest rate (to -0.1%) by Japan. All is not well on the economic front, as India's GDP growth rates for FY14 was revised down to 6.6% fr...

BSE Sensex and NSE Nifty 50 index chart patterns – Jan 22, 2016

There seems to be no let up in FII selling. Last week, their net selling in equities crossed Rs 5900 Crores as per provisional figures. DIIs more than matched them as their net buying in equities crossed Rs 6075 Crores.However, both Sensex and Nifty...

Stock Chart Pattern - Balrampur Chini (An Update)

Sugar stocks are not really my cup of tea - though I do add a spoonful of sugar to my evening cuppa. The sugar business is cyclical and weather dependent. To make matters worse, policies and prices are subject to frequent interference by the gov...

BSE Sensex and NSE Nifty 50 index chart patterns – Jan 01, 2016

For the second month in a row, and in 4 of the last 5 months, FIIs were net sellers of equity. Their net selling was a little under Rs 2400 Crores during Dec '15. DIIs were net buyers of equity worth Rs 6300 Crores in Dec '15.How come both Sensex and...

Stock Chart Pattern - Infosys Ltd. (An update)

Bobby Hebb wrote the song 'Sunny' within 48 hours of a double tragedy on Nov 22, 1963. That was the day popular and charismatic US President John Kennedy was assassinated - and Bobby's elder brother was stabbed to death outside a Nashville night...

BSE Sensex and NSE Nifty 50 index chart patterns – Dec 24, 2015

In a truncated trading week, FIIs turned net buyers of equity worth Rs 480 Crores, as per provisional figures. DIIs were also net buyers worth Rs 940 Crores. Both Sensex and Nifty gained about 1.2% on a weekly closing basis.Interest rate hike in USA...

BSE Sensex and NSE Nifty 50 index chart patterns – Dec 18, 2015

Net selling in equities by FIIs dropped drastically during the past week, barely touching Rs 20 Crores as per provisional figures. DIIs’ net buying crossed Rs 900 Crores. Sensex and Nifty gained about 2% on weekly closing basis, thou...


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