Hind Petro fuels up

Hind Petro- HPCL (BSE code 500104) has been trading in channels which are clearly defined in the charts. The scrip has bounced from the lower end of the channel at 238 and after testing the 1st upper channel at 270 has finally closed above with very good volumes. CMP is 273.50 and the next upper channel is at 289 and then the last channel is 315. Stop loss should be 257 on daily closing basis.

TVS Motors kicks into gear!

TVS Motors (BSE code 532343) has had a huge decline from 130 to 53 in the past few months.
After making a higher bottom at 56, the scrip has jumped up to close at 60.80 with above average volumes. Long positions can be considered with a stop loss of 55 on daily closing basis. Targets are 65 and 80.

3i Infotech moves up.

3i Infotech (BSE code: 532628) has been meandering for the past few sessions around 260. Today its has moved higher and closed at 278.45. Stock looks set to test recent highs around 320. Long positions can be considered with a stop loss of 260 on daily closing basis.

Zensar in breakout mode

Zensar Tech (BSE code: 504067) has broken out in weekly time frame. CMP is 266.85 and a close above 270 will take it to 300 and 324. After a sideways consolidation for 20 weeks the stock has closed strongly and the move upwards should be a good one. A close below 254 on daily basis will negate this move and should be used as a stop loss.

Dishman Pharma sets up.

Dishman Pharma (BSE code: 532526) is setting up a "flag" pattern in daily charts. A close above the supply line (horizontal line) at 236 will take the stock to 255-260 levels. A stop loss of 224 on daily closing basis is essential for capital preservation.

Suven Life gets going.

Suven Life Sciences (BSE code: 530239) has moved up after consolidating for 40 trading sessions below 41.50. Todays close at 42.05 is encouraging for bulls and further upmoves can be traded with stop loss of 38 on daily closing basis. Price targets achievable are 47 (previous high) and 55

Yes Bank !

Yes Bank (BSE code: 532648) has broken out of a downward sloping channel with very good volumes. CMP is 153.60 on BSE and a close above 155 can take it to 170 and then 190. Stop loss is 149 on daily closing basis.

Jyoti Structures lights up.

Jyoti Structures (BSE code: 513250) has broken out of a triangle pattern. CMP is 182.30. A close above 188 will take it to 210 and 240. Stop loss is 174 on daily closing basis.

Sensex making H&S pattern?

Sensex has given a short term sell signal from overbought zones today. CMP is 13113. A Head & Shoulder pattern is emerging with the neckline at 12500. The 5 day stochastic sell signal has taken the sensex to the neckline the past couple of times. A close below the neckline (12500) will be very bearish and will open up downward targets of 11500. Immediate support is at 12900.

RNRL basing out.

RNRL (BSE code: 532709) seems to have made a base around 21.50 levels. Today it has moved up to 23.70 with volumes higher than past 50 trading sessions. Long positions can be considered at current and lower levels with a stop loss below 22.25 on closing basis. Upwards the stock can touch 25.70 and 29.

Guj Petronet moves out.

Guj Petronet (BSE code: 532702) has moved upwards after a consolidation period. CMP is 51.75 and long positions can be considered with a stop loss of 48 on daily closing basis. Targets are 54 and 61

Orchid Chem is smelling sweet!

Orchid Chem (BSE code: 524372) has broken out of a Inverted Head and Shoulders pattern (a technical chart pattern; not a shampoo!). The line denotes the neckline and a potential upside target is 310. CMP is 275 and stop loss for long positions is 265 on closing basis.

Alfa Laval trades within a channel.

Alfa Laval (BSE code: 505885) has been consolidating in a sideways range for almost a year. The bottom of the channel has been at 790 and upper end at 950. The stock has seen a volume spike recently and now a price spike. A close above 880 will take the scrip to 950. Stop loss is 840 for all long positions.

Oil Country moves into higher zones.

Oil Country (BSE code:500313) has moved out after consolidating below 30. CMP is 30.45 and the stock was in 5% upper circuit today. 34 and 43 are two targets possible. Stop loss of 27.75 on daily closing basis should be followed.

Sensex has taken support at the 200 dma for the 2nd time in 10 sessions

Sensex has taken good support at the 200 dma (12545 level today). This moving average is now very important and if Sensex remains above this Bulls should be happy. US mkts are buoyant today and that may cause Sensex to rally. Upsides may see selling pressure at 12800 -13100. The price action is enclosed in downward sloping triangle. MACD is in negative territory and a fresh sell will have bearish implications.