Classic Diamonds was at a high of Rs136 on 11 January 2008. This was when the stock market was at an all-time high. Following the cascading market decline, this stock too collapsed and came down all the way to Rs6.15 on 6 March 2009. It recovered to Rs21 on 5th June, declined thereafter to take support at Rs13.30 on 10th July and then rose again to Rs30 on 18th September. Its decline from Rs49 (16 May 2008) to the base of Rs6.15 (6 March 2009), its rise to Rs21 (5th June), its decline to Rs13.30 (10th July) and its subsequent rise to Rs30
(18th September) can, together, be seen as approximating a rounding-bottom pattern. The logical target price, according to this pattern, is the original level from which the stock declined—that is, Rs49. This should be reached in about six months.
– Anirban Banerjee
 

Binani Industries was at a high of about Rs140 on 25 April 2008. Thereafter, the stock collapsed to take support at Rs26 on 31 October 2008. It made a feeble attempt to rise again, touching Rs44 on 14 November 2008. At this point, the decline was not over, and all further attempts to rise were feeble. The stock had yet to form a base. It finally touched Rs26 on 6 March 2009, a level where the base formation was over. In the ensuing bull market, the stock rose to Rs93 by 5th June, fell to Rs56 on 26th June and, after a few more ups and downs, now stands at Rs86. The rise to Rs93 following the base formation, the subsequent decline to Rs56, and the subsequent ups and downs with an upward bias can, together, be seen as a right-ascending triangle. The stock is now attempting to break out of this triangle formation on greater volumes. The distance from the base level of Rs26 to the first high of the triangle at Rs93, extrapolated from the last low within the triangle of Rs70, gives us a target price of Rs130–Rs140. This should be reached in about four months.