Interpreting Charts - 29th Jan 2010

EXIDEIND

• LTP = 111.10

1. Candlesticks - Prior Downtrend and today it formed a Bullish Engulfing Candle. So, it should move upwards from here. BULLISH
2. EMA - Closed above 100 EMA. So, mainted Support. BULLISH
3. Trendline - BEARISH
4. Support and Resistance- If it goes downward, nearest support is at 105. Next support is at 100. Resistance at 115.
5. Pivot Point (Monthly) - Closed above S1. Resistance = 114, Support = 109. BULLISH
6. Parabolic SAR - BEARISH
7. Volume - Higher than yesterday. BULLISH
8. ADX - +DMI showing -ve bias, -DMI is above ADX and +DMI.  BEARISH

Overall Outlook = Bullish, 1st TGT = 125.
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SUZLON

• LTP = 77.30

1. Candlesticks - Prior Downtrend and today it formed a Bullish Engulfing Candle. So, it should move upwards from here. BULLISH
2. EMA - Way above price line. BEARISH
3. Trendline - BEARISH
4. Support and Resistance- 72 and 80
5. Pivot Point (Monthly) - Closed above S2. Resistance = 81, Support = 72. BULLISH, TGT = 80
   
6. Parabolic SAR - BEARISH
7. Volume -Lower  than yesterday.
   
8. ADX - +DMI showing +ve bias, -DMI is above ADX and +DMI.  But, -DMI showing -ve bias. BULLISH

Overall Outlook = Bullish, 1st TGT = 80.

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TV-18

• LTP = 76.90

1. Candlesticks - Prior Downtrend and today it formed a Bullish Engulfing Candle. So, it should move upwards from here. BULLISH
2. EMA(28,65,100) - Way above price line. BEARISH
3. Trendline - BEARISH
4. Support and Resistance- 72 and 85
5. Pivot Point (Monthly) - Resistance = 78, Support = 71. BULLISH, TGT = 74 --> 84--> 92
   
6. Parabolic SAR - BEARISH
7. Volume -Lower  than yesterday.
   
8. ADX - +DMI showing -ve bias, -DMI is above ADX and +DMI.  BEARISH

Overall Outlook = Bullish, because of Bullish Engulfing Candlestick.
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NTPC

• LTP = 214.80

1. Candlesticks - Prior Downtrend and today it formed an almost Doji like candlestick. Kissed support at 210 and bounced back. Closed way above the day's low.
2. EMA(28,65,100) - Way above price line. BEARISH
3. Trendline - BULLISH
4. Support and Resistance- 210 and 220
5. Pivot Point (Monthly) - Resistance = 226, Support = 214. BULLISH, TGT = 226
   
6. Parabolic SAR - BEARISH
7. Volume -Lower  than yesterday.
   
8. ADX - +DMI showing -ve bias, -DMI is above ADX and +DMI.  BEARISH

Overall Outlook =Wait and Watch.
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