WOCKHARDT
FORMING HUGE DESCENDING TRIANGLE...

This stock is forming a huge descending triangle patter on daily charts. Now this stock holds strong support at 318 which is June 06 lows. Triangle pattern begin eversince making the high of 555. The stock hads a fall from 555 to 318 and then got retraced to 436 which is the exact 50% fibo retracement of the fall of 555-318. And now heading slowly to retest the 318 level. If the 318 level couldnt hold then we head for new lows.

SENSEX 30

AT THE CRUCIAL SUPPORT,

Sensex getting nervous ahead of Budget07. Well now the market is at very crucial support at 14000 level. If 14K takes off then some big correction is expected might it may test the 12800 level. Just look out the chart and RSI bar where i draw the supporting trendline on both of the charts. RSI is threatnening to cut loose the supporting trend line. Even the market is just shy away from its 50DMA which is at 13960. The budget is just shy of few days and the thing to concern is that will the market hold the supporting trendline which is connected from the lows of 12801, 13300 and 13800.

RELIANCE PETROLEUM
HEADING TOWARDS 62...

After making a high of 72 on Thursday ever since that the stock fall by Rs. 6/-. On daily charts, today it formed Doji pattern and closed below its 20DMA and next it'll test the 65 which is 50DMA support for the stock. Well on the charts it clearly suggesting that it'll retest the 62 level in the coming days. Daily RSI is moving below the mid-point level and RSI already confirmed the further weak signal which tells us that 62 is the valid one in the short term.

MAHINDRA & MAHINDRA
HEADING TOWARDS 975-1000.

This stocks chart pattern looks damn interesting. On Daily Charts BB given BUY signal for the Target of 975 and evn 1000 on the cards. The strong support exist at 892. The stock is about to breakout from tighter trading range between 900 and 942. Worth to go long in.