Tokyo Nikkei Average Index

via StockCharts.com

The Nikkei is correcting. It has been in up trend since September 2010. Recently the RSI has touched the 70 level and started to fall down and currently at 45.27. MACD has crossed the signal line below. Slow stochastic has dropped from the over bought region and is below 50 level. All are the bearish signs. The correction can be deeper. If Nikkei breaks below the support provided by the 50 day simple moving average at 10204.81 then the next support will be at 9896.79 by 200 day simple moving average. The overall structure of Nikkei is positive and there is no reason of worry until it breaks through the support provided by 200 day simple moving average.

BSE BANKX

The BSE sectoral index BANKX has set in the down trend and trading in the down channel. BANKX is trading blow it's 100 day moving average. The MACD is making lower lows and is way below zero line at -253.57. The RSI is also making lower lows and is below 50 level at 42.55. The only sign of bullishness is that it is trading above the 200 day simple moving average one it is below this then the down trend will be more confirmed.   

Hotel Leela Venture

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The market cap of the stock is 1782.06. The PE Ratio of the stock is 41.77 and that of industry is 40.38. The EPS(TTM) of the stock is 1.10. The financial results ending year march 2010 has not been very satisfactory.

The stock has corrected and has taken a support at the levle of 40.15 after that it has started to rise. There are threee resistances in it's upwards move, the 200 day simple moving avg, 100 day simple moving avg and 50 day simple moving avg, making a resistance area of 48.59 to 50.84 which is very diffiult to cross. The MACD has crossed the signal line above which is bullish but still is below zero line which is bearish. The RSI is rising and above 50 level which is bullish sign. All this conclude to if stock price crosses the resistance area of 48.59 to 50.84 then the bulls will be dominating and it can see the levels of 58.19 which is about 16% profit in short term.