DOUBLE PATTERN

[Nidhish]

Double Top PatternS:IcIcI Bank,Karnataka Bank,Titan Industries,Ifci,Jsw Energy
pattern Formed Date:03-05-2013

Double Top Pattern for Equity ICICI Bank Ltd. was formed on 03/05/2013 with first Top at price of 1177.35 on 25/04/2013 , and second Top was formed on 02/05/2013 with closing price of 1171.7. Midpoint was formed on 26/04/2013 with a price of 1144.5. Also, together with the price movement, volume was also supportive of classic double Top formation as volume (6213700) of first Top was higher than volume (2773309) of second Top.


As per stochastic Indicator , ICICI Bank Ltd. was in over bought level. However, recent price moves on 03/05/2013 indicates trend reversal and stock may fall / correct in near future.

Chart of ICICI Bank Ltd. has formed Pattern - Double Top. Validity of this pattern is atleast for duration : 16/04/2013 to 03/05/2013. Upper Points are formed at points 02/05/2013, 25/04/2013, . Mid point created at 26/04/2013, . Break out date is : 03/05/2013
Stock has jumped by more than 15% in last One Month..
Share has hit two week low on 03/05/2013
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Double Top Pattern for Equity Karnataka Bank Ltd was formed on 03/05/2013 with first Top at price of 152.15 on 25/04/2013 , and second Top was formed on 02/05/2013 with closing price of 150.5. Midpoint was formed on 26/04/2013 with a price of 147.6. Also, together with the price movement, volume was also supportive of classic double Top formation as volume (4497631) of first Top was higher than volume (2407823) of second Top.

Chart of Karnataka Bank Ltd. has formed Pattern - Double Top. Validity of this pattern is atleast for duration : 16/04/2013 to 03/05/2013 Upper Points are formed at points 02/05/2013, 25/04/2013, . Mid point created at 26/04/2013, . Break out date is : 03/05/2013


Stock has jumped by more than 15% in last One Month..

Share has hit two week low on 03/05/2013

As per RSI , Karnataka Bank Ltd. is in over bought territory
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Double Top Pattern for Equity Titan Industries Ltd. was formed on 03/05/2013 with first Top at price of 273.6 on 22/04/2013 , and second Top was formed on 02/05/2013 with closing price of 274.15. Midpoint was formed on 26/04/2013 with a price of 264.0. Also, together with the price movement, volume was also supportive of classic double Top formation as volume (5693986) of first Top was higher than volume (1311270) of second Top. As per slow stochastic , Titan Industries Ltd. is in over bought range with a value of 82.94