If you care to look at technical charts before taking investment/trading decisions in the stock market, this is the place you should be visiting regularly. CK Narayan of Chart Advise, Dalal Street's most seasoned and arguably senior-most expert in market technicals, will share his technical tips on the go right here on this page. Stay logged in!
Cadila: Can bulls gather more strength? Strong trends are visible on Cadila chart ahead of the results tomorrow. A big build up is seen at the 400 CE strike. Crossing of that level could create some short covering pressure. Two additional aspects are shown in the chart (source Neotrader). The top area shows a Pivot cluster using intra day/multiday/multiweek perspective and this is around Rs 407-408. The bottom panel shows a Momentum Meter for the three time frames. Here we can see that the intra day and multi day are already into over bought area and the multi week time frame is also heading higher. Collectively, these are indicating that there are high expectations built into the stock ahead of the results. Hence, longs should be protected with stops. And profits can be taken around the Rs 405-410 area if reached.
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