Saturday, October 29, 2011
Hikal
Hikal daily chart (click to zoom)
Hikal on daily chart has broke out of falling wedge pattern. It was trading sideways of few days before it broke out yesterday forming saucer pattern on daily chart. It is also well above it 20 and 50 DMAs.
Stock likely to touch 330 in medium term, also keep a stop loss of 275.
CMP as on yesterday is 293.5
Hikal on daily chart has broke out of falling wedge pattern. It was trading sideways of few days before it broke out yesterday forming saucer pattern on daily chart. It is also well above it 20 and 50 DMAs.
Stock likely to touch 330 in medium term, also keep a stop loss of 275.
CMP as on yesterday is 293.5
Tuesday, October 18, 2011
Tata Consultancy Services
TCS daily chart (click to zoom)
TCS today opened gap down on lower than expected quarterly result. Stock traded with high volume today compared to its average daily volume and broke 20 DMA, but it took support at 50 DMA at 1019. On daily chart TCS is in downtrend as it could not break its trend line. Both stochastic and RSI have given bearish crossover and current momentum should take it to 1000. One should also keep stop loss od 1055.
CMP as on today is 1033
TCS today opened gap down on lower than expected quarterly result. Stock traded with high volume today compared to its average daily volume and broke 20 DMA, but it took support at 50 DMA at 1019. On daily chart TCS is in downtrend as it could not break its trend line. Both stochastic and RSI have given bearish crossover and current momentum should take it to 1000. One should also keep stop loss od 1055.
CMP as on today is 1033
Thursday, October 13, 2011
Exide
Exide daily chart (click to zoom)
Exide on daily chart has taken support for third time time on it trend line and broke 20 DMA yesterday due to which bais for stock now becomes positive. Trend line also shows that it is in long term uptrend making higher highs and higher lows. From the current trend it is likely to touch 160 levels in medium term.
One should keep stop loss of 125 on long position.
CMP as on today is 136.35
Exide on daily chart has taken support for third time time on it trend line and broke 20 DMA yesterday due to which bais for stock now becomes positive. Trend line also shows that it is in long term uptrend making higher highs and higher lows. From the current trend it is likely to touch 160 levels in medium term.
One should keep stop loss of 125 on long position.
CMP as on today is 136.35
Mcleod Russel
Mcleodrussel daily chart (click to zoom)
Mcleodrussel on daily chart has taken support from its double bottom on 5 oct and its upside momentum is strong. It also broke its important Moving averages like 20, 50, 100 & 200.
It is now heading towards 285 in short term.
Keep a stop loss of 246, CMP as on yesterday is 258.8
Mcleodrussel on daily chart has taken support from its double bottom on 5 oct and its upside momentum is strong. It also broke its important Moving averages like 20, 50, 100 & 200.
It is now heading towards 285 in short term.
Keep a stop loss of 246, CMP as on yesterday is 258.8
Wednesday, October 12, 2011
Reliance
Reliance daily chart (click to zoom)
Reliance on daily chart is now near its resistance at 850. It is coming for the third time there making it weak resistance and should break it soon as it broke today its important 100 DMA below which it traded for long time. As shown in chart Reliance is trading in rising traiangle pattern and breaking its ceiling at 850 should take it to 880 in short term with stop loss below 840 and CMP as on 12 OCT 11 is 849.
Reliance on daily chart is now near its resistance at 850. It is coming for the third time there making it weak resistance and should break it soon as it broke today its important 100 DMA below which it traded for long time. As shown in chart Reliance is trading in rising traiangle pattern and breaking its ceiling at 850 should take it to 880 in short term with stop loss below 840 and CMP as on 12 OCT 11 is 849.
Monday, October 10, 2011
Tata Coffee
Tata Coffee daily chart (click to zoom)
Tata coffee on daily chart has given breakout and now heading towards 950 in short to medium term.
Today it broke its 20 and 50 DMAs with huge volume on a news of its upcoming alliance with Starbucks.
trendline is also showing uptrend with stochastic and RSI in positive crossover.
Target should be 950 with stop loss of 840.
CMP as on today is 889.
Tata coffee on daily chart has given breakout and now heading towards 950 in short to medium term.
Today it broke its 20 and 50 DMAs with huge volume on a news of its upcoming alliance with Starbucks.
trendline is also showing uptrend with stochastic and RSI in positive crossover.
Target should be 950 with stop loss of 840.
CMP as on today is 889.
Thursday, October 6, 2011
Gitanjali Gems Ltd
Gitanjali on daily chart in strong uptrend and this uptrend is likely to continue till it reaches the level of 380. It is also trading above all its key moving averages. While nifty is still below its 20, 50, 100 & 200 DMAs.
Accumulate the stock for target of 380 with stop loss 330.
CMP as on 5th oct 11 is 349.
Wednesday, October 5, 2011
Jubilant Foodworks Ltd
Jubilant Foodworks daily chart (click to zoom)
Jubilant foodworks on daily chart finished its uptrend on 30 sept 11 by breaking trendline above which it was trading opening gate for downtrend. On 4rth oct 11 it also broke 200 DMA at 716 with high volume. We see this downtrend to continue taking stocks to 600 in short term.
Jubilant foodworks on daily chart finished its uptrend on 30 sept 11 by breaking trendline above which it was trading opening gate for downtrend. On 4rth oct 11 it also broke 200 DMA at 716 with high volume. We see this downtrend to continue taking stocks to 600 in short term.
Monday, October 3, 2011
BPCL
BPCL daily chart (click to zoom)
BPCL on daily chart broke the downward trading channel with huge volume. The stock also closed above 20 and 50 DMA, both stochastic and RSI have made positive crossover and trendline confims the long term uptrend.
Traders can accumulate this stock with target of 760 and stop loss of 650.
CMP as on today is 679.
BPCL on daily chart broke the downward trading channel with huge volume. The stock also closed above 20 and 50 DMA, both stochastic and RSI have made positive crossover and trendline confims the long term uptrend.
Traders can accumulate this stock with target of 760 and stop loss of 650.
CMP as on today is 679.
Sunday, October 2, 2011
COALINDIA
Coalindia weekly chart (click to zoom)
Coalindia on weekly chart is in strong downtrend. It broke the base of falling wedge pattern last week.
It is also trading below its 20 weekly moving average. Stock likely to continue its downtrend and should touch 315 soon forming INVERTED SAUCER.
Sell coalindia with target of 315 and stop loss of 350
CMP as on 30 sept 11 is 333
Coalindia on weekly chart is in strong downtrend. It broke the base of falling wedge pattern last week.
It is also trading below its 20 weekly moving average. Stock likely to continue its downtrend and should touch 315 soon forming INVERTED SAUCER.
Sell coalindia with target of 315 and stop loss of 350
CMP as on 30 sept 11 is 333
Ranbaxy
Ranbaxy in daily chart is in strong uptrend with rising volume. It broke all its important daily moving averages 20, 50 and 100 and managed to close above them. It is also trading in narrowing wedge pattern from which it should breakout. Both stochastic and RSI showing positive crossover.
target of ranbaxy should be 550 with stop loss of 480.
CMP as on 30 sept 11 is 513.85
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