Ranbaxy Labs

RANBAXY took a drastic beating for reasonzs known to all who r in stock markets.

I have been following it up closely. All bad newz all bad events have been surrounding Ranbaxy since past couple of days. 

I write below of all what I have learnt and cud make out from d charts of Ranbaxy.

1. A falling knife formed a Bullish Doji day before and a Bullish Harami today.

2. A positive divergence of MACD is seen today.

3. Stochastic s Positive Divergence formed.

4. RSI Rising from Oversold Levels.

5. Positive Divergence seen in ROC.

6. HPI Taking a U Turn.

5. ADX Trend Strong Negative.

Considering all these points on a Daily Chart there are indications of Ranbaxy reversing its trend. 

But these are just indication. One has to wait for confirmations.

What are d confirmations??

Well considering all d above points.. Keep a close watch for this to happen

Tick Up of MACD Histogram, with Stoc crossing up 20, RSI crossing up 30, and the ADX taking a u turn which is at its strongest negative trend. 

When these indicators get in a momentum the making the ADX turn down.

This is not a buy or sell write up. 

This is just to keep a close watch and to increase expertise in stock markets by studying stocks which are at risk or are highly unpredictable due to some reason or other.