Technical Analysis of Indian Stocks and Commodities

Maruti in free fall!

2010-07-28T00:27:00.001+05:30

Maruti Suzuki has fallen after its quarterly results to 1180 which is an important support area. In my earlier post on Jan 06, 2010 (http://terran23.blogspot.com/2010/01/maruti-in-reverse-gear.html) I had mentioned that the stock will decline to 1360. The stock then went on to form the death cross (50 dma goes below 200 dma) and then attempted to climb over 200 dma which is at 1420 levels. The stock has seen a steep sell off and can fall to 1100 or below. In fact if the overall market declines we will see triple digit levels in the stock.

SBI at significant resistance levels!

2010-04-08T01:29:00.000+05:30

State Bank of India (SBI) is facing severe resistance at 2150. For the past three trading sessions the stock has taken support at 2080 levels. If the stock fails to clear 2150 and closes below 2070 then the stock can fall to 2020 levels. This will also violate the recent uptrend (Line A) and the scrip may fall to newer 52 week lows as the overal medium term trend is down as visible from the downward sloping channel. 1880 and 1680 are major supports in a big correction in the stock.

VIX at historical lows!

2010-04-01T09:13:00.002+05:30

VIX for the Indian mkts are at historical lows. In fact the current reading is lower than the reading for Jan 2008 all time highs. This shows a lot of complacency in the markets and is a cause for concern for the bulls.

Nifty on the edge of a precipice

2010-01-22T23:05:00.002+05:30

Nifty is on the edge of a deep decline. The support of 4950 has held today and the index better hold on to this level. As the graph shows the support line for this rally has broken and a fall below 4960 will take the index to 4780 and then 4550.

Maruti in reverse gear

2010-01-06T00:57:00.003+05:30

Maruti Suzuki India is at a very critical support zone around 1500. Big volume dumping of the stock has taken it below the 50 dma. If the scrip cannot climb back above 1540 then lower levels are sure to be tested. Major support is available at 1360.

Nifty Correction continues

2009-10-31T01:18:00.003+05:30

I had mentioned in my previous update that Nifty Index had breached the uptrend support line and is due for a correction. The index is in free fall and has taken support in the 4680 - 4720 region. A bounce can take place here as the index is oversold in the short term. Markets are not seeing short covering also and hence corrections to the fall are intraday and infrequent. A major correction can take the index down to the levels show in the chart.

Breach!!

2009-10-23T01:03:00.002+05:30

The support line for the bull run in Nifty was finally breached today. Bears got their act together and pushed the index down relentlessly in a trending day. Bulls will try to support the index in the 4880-4920 region. A close below that will signal that the Bears have got the trend in their favor and mkts may see significant correction.

Nifty again at the Support Line

2009-10-21T15:35:00.002+05:30

The Nifty Index is again at an all important support line which has been tested 4 times in the uptrend from March 09. This is the 5th test. The Index has to fight hard to maintain the uptrend considering a lot of heavyweight stocks are breaking down from the huge rallies which they have seen since March.

Nifty at bullish support line again

2009-10-10T00:17:00.002+05:30

Nifty is again at the all important support line which has provided significant upward pressure on the index in the rally from the March lows. A close below 4900 will signify the dominance of bears and will liquidation by smart players.

Rupee Dollar breakout

2009-10-08T14:11:00.003+05:30

The Rupee has stealthily strengthened against the US Dollar and seems to have formed a head and shoulder top pattern which gives a target of 40 Rs. to the Dollar. This will definitely affect the IT sector which has started showing signs of a breakdown on the charts.

S&P 500 trapped in bearish pattern.

2009-09-26T01:30:00.002+05:30

S&P 500 (USA) faced resistance at 1080 levels after a tremendous rally from 666 levels touched on 6th March 2009. The index is facing selling pressure at the upper trendline of a big upward sloping wedge pattern which is bearish in nature. It has taken support at 1040 which is the 20 dma and if it slips below this then the next support zone is 1000-1010.

Nifty at critical juncture!

2009-09-04T00:43:00.002+05:30

Nifty is again at the upward sloping line which has held so far. Nifty index has earlier taken support at 4350. If Nifty slips below this line then 4350 is the next support area. It will also mean that the current trend is over.

Sensex Aug. 2009 (Action Replay?)

2009-08-27T01:08:00.002+05:30

The current Sensex picture looks eerily similar to the roadmap of Sensex in Jan 2008 before the big crash. Refer to the post. http://terran23.blogspot.com/2009/08/sensex-2008-redux.html

Sensex 2008 redux

2009-08-27T01:04:00.003+05:30

BSE Sensex chart for the 2008 Bull market top is displayed here. The points a,b,c,d,e,f,g,h and i are marked for the roadmap taken before the fall of the cliff.

Reliance Ind. at a crossroad.

2009-08-20T22:36:00.003+05:30

Reliance Ind is critically poised between two trendlines. The upper one which is sloping downwards has halted any rally. The lower one is connecting the two bottoms and is a support line which the bulls have defended so far. The next few trading sessions will be critical. A breakdown will take the stock the gap area around 1580. A move higher will test the 2100 levels.

Shanghai Index update

2009-08-19T23:39:00.004+05:30

As expected and posted on 14th August, the Shanghai Stock Exchange Index has hit the lower target of 2800 and in fact has closed lower. The index seems to be in free fall with hardly any support coming in. This action usually takes place when fundamentals are out of whack with the price of the index. Lower tgts of 2600 and 2400 are not far!

My earlier post http://terran23.blogspot.com/2009/08/shanghai-stock-exchange-index-update.html

Nifty Update

2009-08-19T23:36:00.002+05:30

Nifty is critically poised atop the upward sloping trend line. 4350 is the level where bulls have made a stand and so far are holding it very well. A close below this level will see bulls liquidating and the next downward tgts of 4250 and 4180 being hit.

Shanghai Stock Exchange Index update

2009-08-14T15:40:00.002+05:30

The SSEC (Shanghai Stock Exchange Index) seems to have put in a intermediate top (3478 on 4th August, 2009). The index had rallied from a low of 1674 on 28th Oct. 2008. The downtrend has accelerated and immediate support is available at 2900 and below that at 2800 (38% retracement of the entire rally from the bottom) This might be a precursor to the Indian stock market movement so caution is advised.

Nifty - short term update

2009-08-10T23:52:00.002+05:30

Nifty is ready to break the support line (S) which runs parallel to main trend line (A) which has been the support for the rally from 2500 to 4700. In case of the downtrend accelerating the Fib targets for supports are at F1, F2 and F3.

S&P 500 - USA long term trend chart

2009-06-23T20:07:00.002+05:30

S&P 500 (USA) in quarterly period time frame (Log scale) shows very clearly that the index has entered the long term upward sloping channel which it had broken out of in the 90s and peaked out in 2000. The 2000 peak has not been crossed in the bull market which terminated in 2007. 2008 bought the index crashing within the channel and a bottom was formed at 666. From a quarterly perspective the index has to close above 1100 decisively to get a sustainable uptrend. In case of 666 being broken decisively, 450 is possible which is at the bottom of the long term channel.

Nifty at important barrier!

2009-05-19T10:01:00.002+05:30

Nifty zoomed up 20% to touch an important trend line from below. This trendline was the support for the entire bull market from 2002 to 2008. After forming a trough, Nifty zoomed up on Monday 18th May, 2009 and touched this trendline. Now it will require a lot of money to push Nifty above this trendline. Nifty can go higher as the trendline is trending higher but failure to close above this trendline and sustaining over it will be the key. Markets are tremendoulsy overobought and an investor or trader should wait for markets to stabilise and volatility to decrease before taking a further call. As for me, I am selling today now that markets are out of the "frozen zone"

The image is of Nifty in weekly time frame from 2002 to 18th May, 2009.

I-flex for die-hard bulls only!

2008-05-01T11:13:00.002+05:30

I-flex has broken out of a bullish flag pattern on good volumes. Bulls can take positions with targets of 1660 and 1800 (the two overhead resistance zones). Overall I think markets are looking tired and a correction is due within the next few trading sessions. So appropriate stop losses should be applied to all positions.

Hero leads from the front!

2008-04-26T14:31:00.003+05:30

Hero Honda has broken out of a sideways range in weekly charts after almost 2 years. All time highs look sure to be tested and broken. Pullbacks can be used to accumulate.

Mcleod Russel is brewing!

2008-04-17T18:03:00.001+05:30

Mcleod Russel (BSE code: 532654) is breaking out on strong volumes in the weekly charts. The stock is in an intermediate uptrend and can challenge all time highs around 160. Pullbacks should be used to enter into the stock.

Reliance Ind. at key resistance zone

2008-04-16T01:26:00.002+05:30

Reliance Ind. has reached a key resistance zone @ 2650. It has failed at this level quite a few times after the crash in january. Positions can be taken by using options. For bearish strategies, puts can be bought and if breakout takes place then call options can be taken.

Hind.Oil Exploration reaches 1st target of 148

2008-04-15T14:04:00.000+05:30

Hind.Oil looks set for a nice move up!

2008-04-07T23:18:00.002+05:30

Hind. Oil Exploration has consolidated well and broken out of this zone of 88-118 on good volumes. Stock may reach 148-150 and then 170 if markets remain bullish. Stop loss of 113 on closing basis would be prudent.

Stocks with dandruff!

2008-04-06T00:26:00.007+05:30

Some stocks which seem to display a Head and Shoulders Top pattern which is bearish by nature and can give pretty accurate targets if the pattern plays out.

Larsen Toubro breaks down from flag pattern

2008-04-04T20:26:00.002+05:30

Larsen and Toubro has broken down from a bearish flag pattern and with good volumes. 2600 is the last hope and 2330 is the next target on the downside. Medium term it can go to 2000.

BRFL at resistance levels

2008-04-03T23:29:00.001+05:30

Bombay Rayon (BSE code: 532678) is trading in a descending channel and has reached the upper line and facing some resistance. CMP is 298.15 and a short position can be taken if the stock shows weakness and closes below 295. Stop loss can be daily closing above 305.

Sesa Goa on important supports!

2008-04-02T20:50:00.003+05:30

Sesa Goa has taken support on 2800 for the 4th time since it bounced back from the january 08 lows of 2000. This support is critical and a close below it will be bearish for the stock.

Bingo! ITC looks set to crack resistance

2008-04-01T19:41:00.002+05:30

ITC ltd. is at a critical level in its recent uptrend and has been a market outperformer. The stock is at a critical level and a convincing close above 214 will give it room to go for the recent high of 236. Long positions can be taken with a stop loss which should be used considering the overall bearish market sentiment.

State Bank looks set to fall to 1400 levels

2008-04-01T00:04:00.003+05:30

State Bank of India had bounced off 1580 (pt. A in the fig). After a small bounce the stock has ended near 1598 and if the recent bottom of 1580 is broken, then the next support comes in around 1400 levels which is a fibonacci retracement for the rally in the stock from 680 levels to 2400.

The financial system- What went wrong!

2008-03-27T23:49:00.003+05:30

Here is a good article about the mess in which the financial companies find themselves.

http://www.economist.com/finance/displaystory.cfm?story_id=10881318

Make or Break for Hind. Unilever

2008-03-27T23:20:00.007+05:30

Hind. Unilever has been outperforming the markets. The stock is pegging at the upper band of an uptrending channel. This has proved to be a supply zone in the past few months. Also another resistance is overhead from the neckline of a Head and Shoulders Top pattern. 246-250 is resistance and the stock is at a critical juncture.

Sensex rebounds in short covering

2008-03-25T16:28:00.002+05:30

Sensex bounced up nastily for the bears in a short covering rally today. Overall the trend remains down as the 20 day and 50 day moving averages (in blue and red resp.) remain inverted. Besides the Sensex remains below the 200 dma which is bear territory. A good opportunity to short the markets will be available soon.

Glenmark breaks out in weekly charts.

2007-05-26T01:59:00.000+05:30

Glenmark Pharma (BSE code: 532296) has made a cup and handle chart pattern in weekly charts and looks set for newer highs. CMP is 699 and stop loss of 620 on daily closing basis should be adhered to for long positions. Targets are 820 and 900.

Bartronics set for new highs!

2007-05-23T00:26:00.001+05:30

Bartronics has broken out of an important resistance zone on good volumes. The stock has made a pullback to the trendline and cmp is 130.45. Long positions can be taken with a stop loss of 120 on daily closing basis and target is 170.

TTK Prestige is a stock to watch out for!

2007-05-18T01:35:00.000+05:30

TTK Prestige (BSE code 517506) has broken out of a trading range and looks set to test 150. CMP is 130 and long positions can be take on a move beyond 135. Stop loss should be 124 on daily closing basis.

Reliance Ind. infra. looks bullish.

2007-05-16T23:01:00.000+05:30

Reliance Ind. Infra (BSE code: 523445) has broken out of a long term downward sloping trend line and after a pullback looks set to move to higher regions. CMP is 482.30 and long positions can be considered with a stop loss of 449 on daily closing basis. Upwards the stock can 520 and 570.

Unbelievable!

2007-05-13T14:15:00.001+05:30

The Dunk of the playoffs!

NIIT Tech. looks promising.

2007-05-12T01:21:00.000+05:30

NIIT Tech. has consolidated after making an all time high at 535 on 20th Feb, 2007 and now looks set to challenge that price. CMP is 487.65 and the breakout above 480 levels which was a supply zone has been on very good volumes suggesting a strong upmove. Stop loss for long positions should be 440 on closing basis and targets of 535 and 600 are achievable.

Syndicate Bank legs up!

2007-05-10T01:58:00.000+05:30

Syndicate Bank (BSE code: 532276) after breaking out of the downward sloping trendline has made another leg up with above average volumes. CMP is 79.65, and above 80 the stock can touch 83 and then 86. Stop loss should be 76 on daily closing basis.

Nifty is Fifty-Fifty

2007-05-09T01:07:00.000+05:30

S&P Nifty index has been falling for the past three sessions. Unable to make a new high the index is struggling at 4080 levels. A close below 4020 will be short term bearish and can take the index down to the 50 day moving average which is currently at 3866. Futures can be sold with a stop loss of 4200 on daily closing basis in spot nifty. Alternatively 3900 puts can be bought at 45-50 Rs. These puts have the potential to double.

Sensex makes a Key Reversal Day!

2007-05-07T01:03:00.000+05:30

Sensex made a significant signal on 4th May, 2007 (Friday). The index opened higher than the previous trading day's high (14107.06) went on to make a higher high intra day and closed lower than the low of the previous day (13987.77). This makes this session a Key Reversal Day with the highest volumes in the recent rally from the 200 dma which is now at 12869. This can mean that the index may start trending downwards and 13650 is the level to watch. A close below this figure will have short term bearish implications and index can again retest the 200 dma. A close above 14400 will negate this bearish premise and take the markets to new highs.

Piramyd Retail sees some accumulation

2007-05-07T01:01:00.000+05:30

Piramyd Retail (BSE code: 532679) is witnessing a volume spike which took its price from 61.35 to 65.00, Long positions can be considered at current and lower levels with a stop loss of 60 on daily closing basis. 70-74 is the profit booking zone.

Petronet LNG gets set!

2007-05-03T18:33:00.000+05:30

Petronet LNG (BSE code:532522) has generated good volumes over the past few days.The stock is trapped between 45 and 48 levels. Long positions can be considered with a stop loss of 44.90 on daily closing basis. Targets are 50 and 55

DCB breaks out!

2007-05-02T14:08:00.000+05:30

DCB or Development Credit Bank (BSE code: 532772) has closed at 75.55 with increasing volumes. Long positions can be considered with a stop loss of 70 on daily closing basis. Targets are 80 and 86.

Hind Petro fuels up

2007-04-27T01:29:00.000+05:30

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!

2007-04-25T18:51:00.000+05:30

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.

2007-04-25T00:45:00.000+05:30

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

2007-04-22T23:11:00.000+05:30

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.

2007-04-20T00:03:00.000+05:30

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.

2007-04-18T18:22:00.000+05:30

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 !

2007-04-16T17:48:00.000+05:30

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.

2007-04-15T11:20:00.000+05:30

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?

2007-04-12T23:02:00.000+05:30

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.

2007-04-12T00:42:00.000+05:30

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.

2007-04-11T01:26:00.000+05:30

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!

2007-04-10T00:25:00.000+05:30

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.

2007-04-05T22:15:00.000+05:30

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.

2007-04-04T22:45:00.000+05:30

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

2007-04-04T01:34:00.000+05:30

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.

Sensex range bound.

2007-03-28T01:31:00.000+05:30

Sensex rallied strongly after making a double bottom at the 200 dma and faced resistance at the measuring gap made when it fell from the recent top. Unable to close above the gap the sensex has fallen within a range of 900 points and can go down to the 200 dma again. Will be interesting at that point.

Sensex trying to make sense!

2007-03-20T16:53:00.000+05:30

BSE Sensex has fallen from all time highs to the 200 dma (12391). Short term trend is down as witnessed by the moving averages. Bounces from the recent bottom have fizzled out and are at low volumes. A symmetrical triangle (pennant??) seems to be forming as the range is narrowing for the index. Breakouts have to be watched as should the accompanying volumes. Upside targets are 13145 and 13400. Downside the 200 dma is the levee to watch. Once broken downside targets open up towards 11700-11300.

HOV services bucks the trend

2007-01-09T23:03:00.000+05:30

HOV Services (BSE code:532761) has risen strongly when most of the stocks were down. The volumes are encouraging and long postions can be taken at CMP (197.60) with a stop loss of 174 on closing basis. Any pullbacks can be bought! Stock can touch 235.

Selan Exploration ready for higher territories.

2007-01-08T23:35:00.000+05:30

Selan Exploration (BSE code:530075) has broken out of a resistance zone and is consolidating for past few days. CMP is 88 and a close above 94 will be a good entry for a target of 110. Stop loss for all long positions should be 80 on daily closing basis.

Sintex Ind is filling up for a strong rally!

2007-01-05T00:19:00.000+05:30

Sintex Ind (BSE code 502742) has made a bullish pattern and is breaking out for a strong move upwards. CMP is 231 and 255 is possible in the short term and 300 in medium term. Stop loss should be 212 on closing basis.

Northgate goin north!

2007-01-04T00:14:00.000+05:30

Northgate Tech (BSE code: 590057) has started moving upwards after a consolidation period. CMP is 877 and a target of 1050 can be achieved. Stop loss should be 820 on closing basis.

CIty Union Bank flies high!

2007-01-03T01:18:00.000+05:30

CIty Union Bank (BSE code: 532210) has moved up with good volumes today to close at 172. The stock is set to touch 195-200 levels and positions can be taken with stop loss of 155 on closing basis.

Himadri Chem continues its good run!

2006-12-27T23:20:00.000+05:30

Himadri Chem (BSE code: 500184) has been a ten bagger stock since 2003. It looks set to continue upwards with CMP at 319 and 325 being near term resistance. 350 is immediate target and 390 possible in the near future.

HT Media looks rosy!

2006-12-26T23:35:00.000+05:30

HT Media (BSE code : 532662) has had a decent correction from its all time high of 858 and has swung up.CMP is 798.40 and if the stock closes above 800, then all time highs can be taken out. Stop loss for all longs should be 745 on closing basis.

Voltas Ltd. ready for all time highs!

2006-12-24T11:13:00.000+05:30

Voltas Ltd. (500575) has broken out of an inverted Head and Shoulders bottom pattern. The neckline of this pattern (as shown in the accompanying graph) is at 115 and CMP is 117.15, The graph is a weekly chart and long positions can be take with a stop loss of 105 on weekly closing basis. Target according to the pattern is 160.

HEG rising!

2006-12-20T23:30:00.000+05:30

HEG Ltd. ( BSE code: 509631) has been strong in the recent bout of volatility in the markets. CMP is 181 and support exists at 166-174 region and the stock can be accumulated in declines to that area. A close greater than 188 will take it a price level of 210-220.

Century Text may fall a bit more.

2006-12-19T23:26:00.000+05:30

Century Textile can fall as a stochastic sell signal has occurred today. Stock price below 625 can take it down to 590 which is the 50 day sma. Markets being volatile stop losses are important and this more of a day trading call.

Crew Bos is hitting the right notes!

2006-12-18T19:14:00.000+05:30

Crew Bos (BSE code: 532542) has got good volumes accompanying its breakout as shown in the chart. CMP is 229.90 and if the stock sustains above 220 then 256 which is its all time high is within reach.

Lupin is an outperformer!

2006-12-16T21:32:00.000+05:30

Lupin Ltd. (BSE code: 500257) has broken out of a resistance zone to close at 570.50. It is moving to multi month highs ane may test the May 2006 high of 650. Stop loss of 525 on closing basis is a must considering the recent bout of volatility.

Suven Life Sciences is resilient.

2006-12-13T23:14:00.000+05:30

Suven Life Sciences ( 530239) has been resilient in the recent carnage. Stock is in strong hands and a close greater than 115 will trigger more upsides. 89 is stop loss from a medium term perspective and stock can be accumulated in declines. Upsides resistance zones are 121, 133 and 160.

Aurobindo Pharma swings up

2006-12-09T10:49:00.000+05:30

Aurobindo Pharma (BSE code: 524804) has given a swing trade opportunity. After moving up from 570 levels to 670 the stock swing down for a day and has moved higher in past two sessions clearing 671 (CMP 678.25) clearly showing good momentum. Long positions can be taken with a target of 730. Stop loss for all longs is 640 on closing basis.

Havells to light up!

2006-12-07T23:22:00.000+05:30

Havells Ind (BSE code: 517354) is moving in a stuctured channel and seems set to touch the upper channel at 370. CMP is 342 and stop loss for long postions should be 325 on daily closing basis.

KLG Systel revs up.

2006-12-05T23:09:00.000+05:30

KLG Systel (531269) has again given a buy signal. It has had a terrific run in the past few months as the chart shows. CMP is 275.70 and previous high can be reached (318). Stop loss should be 250 on closing basis.

Grasim continues its winning ways!

2006-12-04T21:30:00.000+05:30

Grasim (BSE code: 500300) looks set for higher levels. CMP is 2790 and the scrip can touch 3040 provided it closes above 2800 decisivey. Volume action confirms powerful investments. Stop loss of 2700 on closing basis for short term players.

Moser Baer clocking huge volumes in breakout.

2006-11-30T22:41:00.000+05:30

Moser Baer (BSE code: 517140) has clocked all time high volumes in the MONTHLY Chart shown along side. CMP is 265 and support exists at 245. Accumulation can be done at current and lower levels for a target of 400 in 2007.

BEML ready for the runup.

2006-11-29T23:51:00.000+05:30

BEML (500048) has bounced up from the lower channel and seems set to reach 1140 on the upper channel. CMP is 1000 and stop loss should be 940 on closing basis.

Ceat ltd gets going.

2006-11-28T23:42:00.000+05:30

Ceat ltd. (BSE code: 500878) is perking up with good volumes after a decent consolidation period. CMP is 126 and a move beyond 130 will take it to 144 and 160. Stop loss is 115 on daily closing basis.

Crompton Greaves breaks out

2006-11-23T23:12:00.000+05:30

Crompton Greaves (BSE code: 500093) has broken into all time high territory. CMP is 272.45 and a close greater then 280 will generate a buy signal. Target is 325 in medium term. Stop loss is 250 on daily closing basis.

ABB set to resume its upward journey

2006-11-22T23:22:00.000+05:30

ABB (BSE code: 500002) has corrected substantially after its amazing run from 3000 to 3790. CMP is 3492 and long positions can be considered with a stop loss of 3340 on closing basis. New highs are possible in the next few months.

Alstom Power (APIL) can be bought.

2006-11-22T00:37:00.000+05:30

Alstom Power (BSE code:532309) is bouncing from the lower supports of a rising channel. CMP is 424.65 and long positions can be considered with a stop loss of 409 on daily closing basis. Targets are 460 and 520

Tech Mahindra steadily climbing up.

2006-11-20T22:57:00.000+05:30

Tech Mahindra (BSE code: 532755) has witnessed an astonishing rise and has doubled in prices since September 2006. CMP is 1139 and a close above 1180 will be take it higher to the the upper resistance line around 1270. This line has been tested only twice and hence it is important to see if the stock faces resistance there. If not then the stock can go to 1500 in no time. Stop loss should be 1010 on closing basis.

Tata Elxsi all set for a good up move!

2006-11-15T22:46:00.000+05:30

Tata Elxsi (Bse code: 500408) is breaking out with rising volumes. CMP is 255 and a close above 262 will bring a target of 300 in range. Stop loss should be 240 for all long positions on daily closing basis.

Aurionpro movin up.

2006-11-13T22:58:00.000+05:30

Aurionpro (BSE code: 532668) is moving up in bullish trend. CMP is 169.95 and a target of 200 is achievable. Stop loss of 158 should be kept for capital preservation.

Mahind. Ugine has started its afterburner.

2006-11-09T23:45:00.000+05:30

Mahind. Ugine (BSE code: 504823) has closed above the 200 dma (126.29) with rising volumes and seems to be in a bull grip. CMP is 127.05 and immediate upside is limited to 137. Beyond that 157-160 is possible. Stop loss for all long positions is 120 on closing basis.

Assam Co. is ripe for the picking.

2006-11-07T23:59:00.000+05:30

Assam Co. (BSE code: 500024) is moving up after consolidating for two weeks. CMP is 26.40 and a close above 27 on daily basis will bring in a target of 32. Stop Loss is 25.50 on closing basis.

Pratibha Ind is looking good!

2006-11-01T23:46:00.000+05:30

Pratibha Ind (BSE code: 532718) is facing resistance at the 38.2% Fibonacci retracement levels (231) to the fall from its 11th may, 2006 top of 391. CMP is 228 and a closing above 234 will be good for a strong upmove to 263 and 300 the next retracement levels.

KRBL on the starting line

2006-10-27T23:05:00.000+05:30

KRBL (BSE code: 530813) has set up for an upmove above the 200 dma at 157.45. Support is at the 200 dma (148). Closing above 163 will bring targets of 180 and 200 within range. Stop loss should be 147 on closing basis.

2006-10-26T22:17:00.000+05:30

Alstom Ltd (BSE code: 522275) has broken out of a sideways consolida

tion range. CMP is 759 and long positions can be considered with stop loss of 720 on daily closing basis. 830 is one target though this stock can easily go to 1000.

Godrej Ind a super mover

2006-10-23T19:31:00.000+05:30

Godrej Ind (BSE code: 500164) has broken above the upper line of a rising channel with very good volumes. CMP is 130 and long postions should be considered with a stop loss of 120 on closing basis. Target is 165.

Prithvi goin for the skies!

2006-10-21T13:03:00.000+05:30

Prithvi Info (BSE code: 532675) has closed above the 200 dma with the highest volumes in the past few months. CMP is 355.20 and stop loss should be 328 on closing basis. Upsides can be expected and levels of 410 and 440 are achievable.

FourSoft swinging up to higher levels.

2006-10-19T00:00:00.000+05:30

FourSoft (BSE code: 532521) is moving in a well defined rising channel. As the chart shows the scrip has broken out of a downward sloping resistance line and then after correcting for two sessions has swung up. CMP is 62.95 and long positions can be initiated with stop loss of 60 on closing basis. Targets are 69-70 and 78.

Suzlon is full of energy!

2006-10-17T22:56:00.000+05:30

Suzlon Energy (BSE code: 532667) is looking set to make all time highs. CMP is 1355. Resistance is at 1400 levels. Positions can be taken at current price and lower levels with stop loss at closing below 1300. Upside target from current price are 1385-1390 and 1520.