Negative Candidate -Short term, Feb 9, 2010 Analysis Explanation
Aarvee Denims & Exports Limited has broken through the floor of a rising trend channel. This indicates a slower rising rate at first, or the start of a more horizontal development. Gave a negative signal from a head and shoulders formation by the break down through the support at 59.83. Further fall to 49.13 or lower is signaled. The stock has marginally broken down through the support at rupee 55.40. An established break predicts a further decline. RSI is oversold, which indicates a potential short-term reaction up. The stock is overall assessed as technically negative for the short term.
chani
| NIFTY 
