Tuesday, June 1, 2010

Analysis of Housing Development Finance Corp. Ltd




  • I love this  stock in BSE 30 index . Held  above the  UpTREND line. When  the  market   bounces  upside  this  is a   potential  BUY  after   sufficient technical confirmation.






     
          CANDLE STICK TREND ANALYSIS


              o ·        The   2  year   weekly  chart     has   held  beautifully  above  the   20 day ,  50  day  and  200   day    Exponential  moving   average.  Upon a  closer       look ,  it  has  formed  a  nice  ascending  triangle,  with a  break   above  2800  suggesting more upside  to  come.
              o ·          The   one year   daily  chart  is   depicting that    ascending triangle in  closer  view.    Inspite  of  all the  downtrend  across the  world   the     has   magnificently   held  ablove  all the moving  averages.  This  is  what   extremely impressed me.
              o ·         The    direction that   stock  want to take  (  upside or  downside)  will be  clearly  indicated   by the    MACD  histogram   which is  also  forming  a   triangle  pattern   
  • .
              POINT  AND    FIGURE  TREND ANALYSIS

          ·           The  stock is  trading   well above  it’s  BULLISH  uptrend line that it formed    since           march  ‘09

          ·              A  print  of   2900  in  the stock  price  will give a significant  buy signal called a 

          TRIPLE  TOP BREAKOUT

          ·           Until  then  the  stock  remains    on   watch  and  hold     signal .
     

No comments:

Post a Comment