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TECHNICAL ANALYSIS


We at, Indica Investments, make use of “Technical Analysis” an important tool of Equity Research, to time the market as “When to buy” the scrip which has been filtered through the Fundamental Analysis.

Candlestick charting techniques are used to study the future price trends by extrapolating the past price behavior.








Some of the important indicators to study “Bullish” and “Bearish” patterns are used as follows


i) Formation of higher tops and higher bottoms – indicating bullish pattern.

ii) Formation of lower tops and lower bottoms – indicating bearish pattern.

iii) Shooting Star, Dynamite patterns – indicate downward reversals.

iv) Hammer formation – indicate upward reversal.

v) W shaped patterns – indicate supports.

vi) V shaped patterns - indicate recovery.

vii) U shaped patterns – indicate bottoming out.

viii) 200 day moving averages – indicate long term supports and resistances.



ix) 50 day moving averages – indicate medium term support and resistances.

x) Head and Shoulder patterns with piercing of neck line – indicate price break outs on either side.


xi) Flag patterns – indicate price break outs on either side.

xii) A study of ROC (Rate of change), RSI (Relative strength index) and MACD (Moving average convergence and divergence) – indicate overbought and oversold territories.



xiii) Volume bar graphs – indicate strength of bullishness and bearishness.

Our Research team employs a strong technical database of around 3000 companies listed on both the NSE and the BSE. World renowned and advanced Technical Analysis softwares are being used :



i) Capita Stocks OLE’- provided by the infamous
CapitalMarket.com.



ii) Meta Stocks – Provided by Viratech in collaboration with Omega USA