Blog Posts - Falling Wedge



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...

WTI and Brent Crude Oil charts: an update

WTI Crude Oil chartIn the previous post on the daily bar chart pattern of WTI Crude Oil, a 'reversal day' bar on daily chart and a 'gravestone doji' candlestick on weekly chart had raised concerns about the formation of an intermediate...

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 – Sep 11, 2015

FIIs remained net sellers of equity during the week, with their net sales exceeding Rs 2800 Crores. DIIs were net buyers of equity worth Rs 2600 Crores. Yet, both Sensex and Nifty closed higher on a weekly basis after 4 straight weeks of lower closes...

Nifty chart: a mid-week update (Sep 09 ‘15)

  The nature of the two ‘gaps’ formed on the daily bar chart pattern of Nifty were explained in last week’s update. The downward target of 7630 for the index was easily met. Two of the four technical conditions of a bear market have be...

Gold and Silver charts: an update

Gold chart pattern The daily bar chart pattern of gold broke out upwards from a ‘falling wedge’ pattern. Strong volume support technically validated the upward break out. After crossing above its 20 day EMA, the rally stalled near the 1125 le...

WTI and Brent Crude Oil charts: an update

WTI Crude chart The daily bar chart pattern of WTI Crude has been consolidating sideways for the past 2 months within a ‘pennant’ (narrow triangle) pattern. A ‘pennant’ (like a triangle) is usually a continuation pattern. So, the likely b...

WTI and Brent Crude Oil charts: an update

WTI Crude chart The daily bar chart pattern of WTI Crude has been consolidating sideways with a downward bias since touching a high of 62.50 on May 6 ‘15. It appears to be forming a ‘falling wedge’ pattern that has bullish implications. St...

BSE Sensex and NSE Nifty 50 index chart patterns – Mar 20, 2015

The mining bill got passed in the Rajya Sabha – this time with support from Trinamool Congress. The turnaround from a very vocal opposition party shows good ‘floor management’ by NDA. Perhaps a ‘quid pro quo’ (‘You help us to pass bills,...

Stock Index Chart Patterns: S&P 500 and FTSE 100 – Feb 27, 2015

S&P 500 Index Chart The daily bar chart pattern of S&P 500 touched a new lifetime high of 2120 on Wed. Feb. 25 ‘15, but formed a small ‘reversal day’ pattern and closed marginally lower for the week. All three EMAs are rising, and t...

WTI and Brent Crude Oil charts: bear market rallies stalled?

WTI Crude chart In the previous post on the daily bar chart pattern of WTI Crude oil, bears appeared to be tightening their grip even as oil’s price was attempting to find a bottom at 45. After closing below the 45 level two days in a row, a sm...

Technical updates – Container Corp and Indraprastha Gas

Stocks of PSU companies have never been my favourite because too often, management decisions have been dictated by government prerogatives and their bulging cash balances have been used to fix problems arising from faulty fiscal policies. But if som...

Gold and Silver charts: an update

Gold Chart Pattern The following were the concluding comments in the previous post on gold’s bar chart pattern: “… the price pattern formed since the intra-day high of 1345 on Jul 10 ‘14 is a ‘falling wedge’ from which an upward break...

Gold and Silver charts: long-term bear markets continue

Gold Chart Pattern For long-term investors, following the 3 years weekly bar chart pattern of gold probably makes more sense than the tension and confusion of daily price fluctuations. Short-term traders, who thrive on the adrenaline rush of hour...

BSE Sensex and NSE Nifty 50 index chart patterns – Jun 20, 2014

Stock market players – investors, brokers, analysts, funds – have finally agreed that a bull market is in progress. Some are calling it a ‘new’ bull market; others are still hedging their bets and calling it ‘the cusp’ of a bull market. S...

Nifty chart: a mid-week update (Jun 18 ‘14)

The higher WPI inflation number was a fly in the ointment. Any interest rate cut by RBI will need to wait. A delayed and possibly deficient monsoon due to El Nino effect is another concern. The insurgency in Iraq could be a potential game changer i...

BSE Sensex and NSE Nifty 50 index chart patterns – Mar 28, 2014

An appreciating Rupee, falling inflation, contracting Current Account Deficit, growing exports and concerns about economic slowdown in China and many emerging markets have turned India into a favoured destination for overseas investors. RBI extended...

BSE Sensex and NSE Nifty 50 index chart patterns – Mar 21, 2014

In a belated effort to trim its fiscal deficit, the government raised more than Rs 8000 Crores by selling stakes in Axis Bank and several PSU units. The revised divestment target – considerably lower than the earlier planned target – has been met...

BSE Sensex and NSE Nifty 50 index chart patterns – Dec 06, 2013

FIIs were net buyers and DIIs were net sellers during the week – so, what else is new? All kinds of speculations about state election results and their likely effect on stock index movements. The only results the market isn’t expecting are the...

BSE Sensex and NSE Nifty 50 index chart patterns – Nov 29, 2013

First, the good news. GDP growth for Q2 ‘13 quarter was 4.8%, which was higher than 4.4% in Q1 ‘13, and better than the consensus estimate of 4.6%. The economy is gradually bottoming out. The bad news is that the GDP number was below 5% for the 4...


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