Why Gati Ltd. is in downtrend?
Here is a technical chart of Gati Ltd., listed on Indian stock exchange, with Ichimoku indicator.
On 16-Aug-2011, Gati Ltd. stock price CLOSED below kumo at Rs.62. That was the first signal of its weakness. From there, it started its downward journey and yesterday it closed at .Rs.29.30. It may bounce back little from these levels as it has fallen so much. But that doesn't mean that you should buy this stock at these levels.
â€‹The price is not only below kumo but also it is also below kijun-sen line. There is no signal of any positive side. So, avoid this stock for the time being.
â€‹Buy only when it closes above kumo viz. currently at 50.
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