PATNI COMPUTER SYSTEMS (#NSE PATNI) – Found support at 440. | Indian stocks with winning stock price structures, technical & fundamental analysis, and market investment strategies

Winning Stock Price Structures

Thursday, August 12, 2010

PATNI COMPUTER SYSTEMS (#NSE PATNI) – Found support at 440.

Aug 12, 2010: Patni drifted down to 440, which completed the ABC down move. Today, it moved up at very high volume and signifies the end of the down move.

Aug 1, 2010: Patni witnessed a selling climax on poorer than expected results. Expect the stock to drift down to the 450 level where this is support. It has had a beautiful run from March 2009. Hopefully this is a one quarter thingy, will be a good intermediate-term pick at 450.

Weekly Chart

Labels: Pick, Stock

0 Comments:

Post a Comment

<< Home

Winning Stock Price Structures

Disclaimer: The information contained in this website is for general information purposes only. The reader should verify all claims before making investment or trading decisions. Investing in securities is speculative and carries a high degree of risk; you may lose some or all of the money that is invested. Always research your own investments. You bear responsibility for your own investment research and decisions, and should seek the advice of a certified financial advisor before making any investment We will not be liable to any person or entity for the quality, accuracy, completeness, reliability, or timeliness of the information, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information in this site (including, but not limited to, lost profits, loss of opportunities, trading losses, and damages that may result from any inaccuracy or incompleteness of this information). Writers and contributors may be trading in, or have positions in the securities mentioned in their articles.