Wednesday, July 05, 2006

IDFC


IDFC has entered into a symetrical triangle. This type of triangles are normally not indicative of the future trend until there is a clear breakout. The stock did a low of 45 on May 22 and then has entered into this triangle and since then RSI has shown some strength. As this does not take the volume under consideration, I have used the OBV indicator to define the strength of this movement within the triangle.

Also if one looks at the OBV, which is a volume indicator, it is pretty disappointing. The stock is seeing movement on reducing volumes... Buying has drastically reduced in this stock and infact is losing strength. At this point I would be a bit hesitant to take calls on the stock.

Lets see how this stock pans out in the near future.

2 Comments:

Anonymous Anonymous said...

A look at YOUR OBV is also quite disappointing.

:-"

Payne

10:36 AM  
Blogger Nse BSe Trading said...

Sir i need intraday data from yahoo.
i know u hav it.
pls help me stocknse@gmail.com

1:25 PM  

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