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Archive for the ‘Technical Chart Analysis’ Category
Website updates – still affected due to India visit:
Saturday, May 8th, 2010Su-Raj Diamonds, Technical Analysis:
Tuesday, February 9th, 2010
Comment & Conclusion:
on 9th Feb 2010, Stock has reported a great volume with close at 51.65 (bull indicator). I think this script has just begun new bull phase. A great buy on every weakness.
Decolight Ceramics, Technical analysis:
Monday, February 8th, 2010
Comment:
A) Last 50 days consolidated arround 11.50.
B) Nice upswing in negative sentiment.
C) Volume has increased substaintially.
Conclusion:
A great buy arround 11.50. Shares was offered at Rs. 54.00 in 2007. New warrents offered at 10.25 (too much dilution)
Recent announcement regarding orders. Bright days are ahead. – Stop loss below 10.00 (closing basis)
Temptation Foods, Technical Analysis:
Sunday, January 10th, 2010
Comments:
A) Temptation foods has been consolidated arround 37.00. Moving averages are between 36.00 – 38.00.
B1,B2) Last few days, nice upswing, looks like a great break out possible.
C) Volume has been increased with price rise – good bull indicator.
Conclusion:
It looks bullish and will outperform in near term. Temptation foods looks strong above 37.00 Rs. One can remain bullish above 38.00 and bearish below 35.60. Buy on weakness with stop loss below 34.00. It should give a great return within few months.
# There is an issue with management, in past. Otherwise as per fundamentals everything looks great.
Bharti Airtel, Technical Analysis:
Tuesday, December 29th, 2009
Comments:
A) Telecom sector has been lately become less favourite for investors. Stock sold off after split.
B1,B2) Panic over – rethinking on fundamental & some buying interest – still not sure what will happens next? But for now consolidation at arround 290-300 & other arround 320.
C) Definately stock has no volume or less interest above 320-325.
Conclusion:
Bharti Airtel looks neutral to little bearsh. one needs to remain neutral arround 320, bullish above 337 & bearish below 305.
Stock will be underperform for short term.
Rishabhdev Technocable, Technical Analysis:
Wednesday, December 23rd, 2009
Comments:
A1, A2) After IPO, last 6 months stock moving averages are between 18.60 – 18.00 (very small price band).
B) Last few weeks average price band is between 18.10 – 17.95.
C) Volume has been picked up recently.
D1, D2) Last few days trading pattern is suggesting somekind of suppressed upward movement, means stock wants to get free from small price fluctuation, but so far it is failed.
Conclusion:
Rishabhdev technocable is neutral to little bullish at this point. Recent announcement will have great impact in coming days. Stock will go higher once it breaks & stays above 18.60. I think it is a good buy for short term. There is very little down side left for the stock.
Safe Bet at this level:
# Promoters has purchased warrents which can be converted into share at 33.00 Rs. They paid 25% = 8.25 Rs. per warrent upfront & remaining amount will be paid on conversion, if they excercise them within 18 months.
# They issued GDR at approx 20.00 Rs. per share.
# In IPO, share was offered at Rs. 33.00
# Last 2 Qtrs, company has posted net sales gain as well as net profit gain.
# Company’s main business has great potential in India and company is having good clientage as per their website.
# Promoters are having good industry experience and they are trying to remain clean as they have posted insider trading code conduct link on website.
L & T, Technical Analysis:
Monday, December 21st, 2009
Comments:
A) Nice run (Upward Journey) finished last week. (Top arround 1670)
B1, B2) Profit taking in last few trading session, possibly starting of bear phase, as it closed below 1620 on 21st DEC 09.
C) Volume has decreased (almost half) above 1620. need to see how much volume increases once it falls below 1600.
Conclusion:
L & T is neutral arround 1570 – 1670 and bearish below 1560. There is a less chance that it will go above 1700 in near term. One need to book partial or 100% profit on rally and wait to buy again on dip.
Tata Steel, Technical Ananlysis:
Wednesday, December 16th, 2009
Comments:
A1/A2/A3) Tata steel has come to current level gradually with consolidation.
B) Nice upswing
C) Profit taking above 580
D1/D2) Volume has been decreased above 540 – 550 in last few trading session.
F1/F2) Resistance above 566.00 , Nice support at 528.00.
Conclusion:
Tata steel has steam left or not can be determined within next 3-5 trading session. Tata steel has trading range for now 530 – 570.
By looking volume, definately it is no longer HOT stock. Only bullish, if it crosses 600 marks & stays there, otherwise SELL on rally & BUY on dip. Outlook NEUTRAL.
State Bank of India, Technical Analysis:
Monday, December 14th, 2009
Comments:
A) Almost last 3 months stock consolidated at narrow average (between 2260 – 2300), after sharp rise in September 2009.
B1, B2) 2 times failed attempt to stay above 2310.
C) Support at 2270 – 2275 , broke 2 times in last 2 trading session.
D) Volume has been continuously decreasing in last 50 days. (People may lost interest in this script).
Conclusion:
State bank of India is trying to find a direction, It looks neutral to little bearish. One should stay away from this script till it finds a direction either way – Bullish only above 2310 for few days closing basis.
Prism Cement – Technical analysis
Sunday, December 13th, 2009
Comments:
A) Few weeks before bear phase ended (bottomed out with average 41.00 (low arround 36.00)).
B) Consolidation phase.
C) New Bull phase or Bear Rally begins. (still not confirmed – stock is in new bull phase)
D) little profit taking has been started. (seems 44 is 200 days moving average) – 44.00 is a resistance (G)
E) Volume decrease at lower price band – Good bull indicator for now.
F) Above 48.00 – confirmed new bull phase.
G) For now, above 44.00 there is little selling (need to cross & need to remain above 44.00 for few days for confirmed bull phase)
H) Good support at 40.00 – 41.00.
Conclusion:
Prism Cement looks neutral at this point. Short term trading range 40.00 – 45.00.