A few side notes on daily charts: -

1. Trendlines are not drawn. If you draw it, it will enhance your observations and analysis.

2. Indicators are avoided with a purpose. Indicators will distract your attention from where one should
concentrate most. Price and volume.

3. Analysis of the hard right edge. Note the gap up bar/candle on 14/02/2008, which is not with a high volume.
Last day, i.e. 15/02/2008, there is no perceptible increase in volume + Wide range compared to 14/02/08 and
13/02/2008, 12/02/2008. Even this wide range movement did not take price far higher than previous close. Do
not be mislead by “greenness” of the candle.

4. Prices are approaching resistance with wide range bars and net progress on daily basis is become lesser and
lesser.
Side note on weekly chart:

1. Here also trendline is not drawn.

2. What surprised me is the lack of support in the boxed area when the price started from the peak of Rs. 1200/-
(rough value. Not the exact peak value). Price moved down through boxed area like a hot knife through butter.

3. Let us see whether the boxed area offers resistance on the way up.

4. As always, there is absolutely no guarantee that the future price movement will be as marked by me in the
possible direction. This is the possibility appearing at present. You will have to reassess the situation every
day after watching price and volume movements.