Friday, January 27, 2012

Reliance Industrial InfraStructure Ltd.

                                                                               RIIL daily chart (click on chart to zoom)

 RIIL on daily chart is trading in sideways trend after breaking out few trading session back.
It is also trading above its key moving averages like 20, 50 and 100.
Further, 20 DMA has given positive crossover above 50 and now 100 DMA which confirms its uptrend.
 Stock should touch 475 in short term.
CMP - 441
Stop Loss - 425.


Friday, January 20, 2012

Tata Motors

                                                                               Daily chart (click on chart to zoom)

 Today Tata Motors formed double top spin on daily chart which indicates short term trend reversal. Stock is now trading in overbought zone due to huge run up in last few trading sessions. It should correct in short term and touch 208 in short term.
Stop loss should be at 224
Today's closing price is 219.

Rec Ltd

                                                              Rec daily chart (click chart to zoom )

 Rec on daily chart broke out yesterday from saucer chart pattern. It also broke 50 and 100 DMAs yesterday and already trading above 20 DMA. The short term Momentum in stock is bullish though medim to long term trend still looks bearish until it breaks the downward trading channel and come above 200 which is its important psychological level. One can long this stock with target of 195.
Stop loss at 170.
CMP on yesterday - 182

Monday, January 16, 2012

Bata India Ltd

                                                   Bata India Ltd daily chart (click on chart to zoom)

 Bata India was in downtrend from the double top it formed few months back but it bounced back from 500 level from where it had bounced in june 11. Since 20th Dec 2011 it has taken support at 500 and making higher highs and now it is above 600.
In short term it should kiss 650. The stock is also trading above 20 and 50 DMAs which confirms its uptrend
Stop loss should be kept at 595.

Electrosteel Casting Ltd

                                         Electrosteel Casting Ltd daily chart (click on chart to zoom)

 Stock on daily chart has formed higher bottom indicating end of current bearish trend and starting of bullish trend. It has also made upward breakout from its CUP and HANDLE formation.
Stock to continue its uptrend in coming sessions and should hit 21 in short to medium term.
Stop loss should be kept at 17.8.
CMP - 18.85 as on today.

Thursday, January 12, 2012

Hindalco Ltd

                                                         Hindalco daily chart (click on chart to zoom)

 Hindalco on daily chart has made double bottom near Rs 113. It is also above its 20 and 50 DMAs and also above downward trendline as shown in chart.
Yesterday it broke that trend line with higher volume than average daily volume. This momentum should continue in coming trading session with stock touching 140 in short term.
CMP - 132
Stop loss - 126

Friday, January 6, 2012

Reliance Industries Ltd

                                                                    Reliance daily chart (click on chart to zoom)

 Reliance today held its important psychological level of 700 and managed to close above it.
 Same level of 700 from which it made a U turn from bearish to bullish on 30th Dec 11 and for the second time today making it a double bottom formation on daily chart which is a bullish sign.
One can long Reliance at current level with short term target of 750.
Strict stop loss should be maintained at 695. The stop loss should be strict as Reliance is in downtrend making lower lows on daily chart.

Tuesday, January 3, 2012

Cairn India Ltd

                                                               Cairn daily chart (click on chart to zoom)

 Cairn was up today by 4% due to news of a tension between Us and Iran could disrupt the oil supply from GULF region.
Cairn today broke the base of the rising triangle with good volume which is a bullish sign.
Bullish trend in Cairn is also confirmed by higher lows it is making on daily chart.
One can long the Cairn with target of 345 in short term.
Stop loss at 321.
CMP today was 329.

Sunday, January 1, 2012

Hindustan Copper

                                                               Daily chart (click on chart to zoom)

 Making higher highs as copper prices are rising in commodity markets.
Should continue this trend and touch 195 in short term.
Stop loss should be kept at 175.
CMP at 186