Chart of the Day – Dhanuka

Dhanuka – a company that had no news items worthy of report for a really long time suddenly caught the attention of traders as it has moved nearly vertically over the last few weeks. Today, the stock saw massive volumes and the stock ended below 50% of the days range. Seems a fit case of “Buying Climax” though time will tell whether this is the end of the current run or is this the start of a long term bull rally.

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About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
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