Stock Formed Bullish Bar Reversal Pattern on Technical Chart

    Posted by Ashish Sankhla on 0

    The Reserve Bank of India governor Dr. Raghuram Rajan surprised the Dalal Street by keeping key policy rates unchanged on hopes that the inflation will fall going ahead. Reserve Bank of India left Repo Rate unchanged at 7.75 percent and CRR ( Cash Reserve Ratio) at 4 percent.
    The marginal standing facility (MSF) remained unchanged at 6.75 %, and the liquidity adjustment facility (LAF) rate was also kept unchanged In its mid quarter monetary policy meet on Wednesday.


    The street cheered RBI policy on the day with the Sensex up by more than a percent. The Bombay Stock Exchange's Sensex surged 247 points to close at 20,860 and the NSE's Nifty climbed 78 points to 6,217.

    Led by rate sensitive stocks of the 50-share Nifty pack 46 stocks ended with gains while the rest 3 stocks closed with losses. The top 5 gainers among NSE stocks are: Bhel surging by 6.32 %, followed by realty leader DLF (5.63 %), Punjab National Bank (4.74 %), Indusind Bank (4.29 %) and Bajaj Auto (4.08 %). The losers among NSE socks are: Jindal Steel (0.87 %), Sesa Sterlite Ltd. (0.57 %), and Ultratech Cement (0.27 %) and one stock NMDC remains unchanged.

    Of the 30 shares of BSE index, 27 stocks ended in positive terrain, while the rest 3 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: Bhel surging by 5.70 %, followed by Tata Power (4.04 %), Bajaj Auto (3.87 %), Hero Moto Corp (3.14 %) and LNT (2.83 %). The top losers of the Sensex basket were: Jindal Steel (1.55 %), Sesa Sterlite Ltd. (0.74 %), and ICICI Bank (0.13 %).

    All NSE mid cap and NSE small cap index closed higher by about 0.5 % to 3 %.  Top 3 gainers in NSE sectoral index are - NSE Realty up by 3.39 %, NSE PSU Bank up by 3.03 % and NSE Energy up by 2.15 %.

    Nifty Daily Technical Chart


    nifty_daily_chart


    Nifty Weekly Technical Chart


    nifty_weekly_chart
    charts by chartink.com

    Apart 14 out of Nifty's 50 stocks also formed the Bullish Bar Reversal Pattern on the technical chart including Nifty and Bank Nifty.


    Stock Formed Bullish Bar Reversal Pattern on Technical Chart



    Stock Name Open High Low Prev. High Prev. Low Prev. Close Bar Reversal
    CNX Nifty 6129.95 6236 6129.95 6190.55 6133 6139.05 Strong Bullish
    Bank Nifty 11129.65 11572.3 11117.45 11418.1 11178 11208.65 Bullish Signal
    AXIS BANK LIMITED 1250.1 1305 1248 1280.3 1248.35 1256.1 Strong Bullish
    BANK OF BARODA 642 672.6 641.9 667.85 644.3 648.1 Bullish Signal
    BHEL 153.25 164.65 153.25 157.95 153.4 154.35 Strong Bullish
    COAL INDIA LTD 276.65 283.45 276.65 287.9 277.2 278.45 Bullish Signal
    HDFC BANK LTD 650.5 680.65 649.55 675.65 654.05 657.6 Bullish Signal
    HINDALCO INDUSTRIES LTD 116.65 118.45 116.05 119 116.1 116.45 Bullish Signal
    HINDUSTAN UNILEVER LTD. 555.25 561 552.5 559.8 554.35 556.85 Bullish Signal
    ICICI BANK LTD. 1088.4 1132.7 1081.55 1121.5 1090.15 1098.3 Bullish Signal
    NTPC LTD 134.95 136 134.4 138.05 134.55 134.95 Bullish Signal
    OIL AND NATURAL GAS CORP. 276 282.6 273 279.6 273.8 274.7 Strong Bullish
    POWER GRID CORP. LTD. 95 101.7 94.75 99.25 97.85 98.7 Strong Bullish
    TATA MOTORS LIMITED 367 370.85 362.5 374.95 364.65 366.85 Bullish Signal
    TATA POWER CO LTD 87.35 92.1 87.35 91.3 87.65 88.05 Strong Bullish
    WIPRO LTD 517.9 523.9 512.95 529.95 515.25 517.9 Bullish Signal



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