Sunday, December 4, 2011

Dena Bank Technical Chart | 05-Dec-2011

Here is a technical chart of Dena Bank, listed on Indian stock exchange, with Ichimoku Kinko Hyo indicator.





On 05-May-2011, the price of Dena bank closed below kumo @94.85, thus giving bearish breakout. It started its downward journey from there and touched the low of 602. on 24-Nov-2011.

At this stage, the kijun-sen line is flat and in the short term, the price can kiss that level viz. 71.44. One can use this trategy for profit in short term.

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