Sunday, February 12, 2012

Prime Focus

                                                       daily chart (click to zoom)

 On friday 10th feb 12 Prime focus has given breakout from wedge pattern with much higher volume than average daily volume. Stock is also trading above its key daily moving average, this breakout on daily chart should take this stock to 70 in short term from its current CMP of 61.75.
Stop loss shoulde be kept at 58 

Tuesday, February 7, 2012

Sesa Goa Ltd

                                                         Sesa Goa daily chart (click on chart to zoom)

 Sesa goa on daily chart is facing trendline resistance and resistance from 200 DMA placed at 233. Momentum indicators like STOCHASTIC and RSI have given negative crossover which is bearish sign. Sesa Goa should touch 211 in short term from current market price of 221.
stop loss at 230 recommended on short positions.

Monday, February 6, 2012

Reliance Industries Ltd

                                                     Reliance daily chart (click on chart to zoom)

 Reliance should correct from current level and kiss 815 in short term. Stock after huge run up now looking overbought, also today it corrected after touching 200 DMA and down trendline running from 5 apr 2011 which touched it in nov 2011. Now it is third time stock is touching trendline.
Also It has made wedge pattern in current uptrend and should correct from that, stop loss at 850 should be maintained.

Sunday, February 5, 2012

Britannia Indudtries Ltd

                                                            Britannia Daily chart (click on chart to zoom)

 Britannia has given breakout from the bottom it has made between 435 and 460 level making SAUCER pattern on daily chart. Upper limit of SAUCER is 490 from where it came down in past 3 to 4 times. Stock is coming to this level 490 again as seen in daily chart and should break this resistance in coming days.
One should buy this stock at CMP of 475 (as on friday 3rd Feb 12)  with target of 500 in short term.
Stop loss at 460 recommended.

Eros International Media Ltd

                                                      Eros daily chart (clickon chart to zoom)

 Eros on daily chart has given breakout from bullish wedge pattern friday 3rd feb 12. An intraday volume was also very high compared to average daily volume for the stock. This breakout should take Eros to 245 in short term.
Stop loss should be maintained at 205 .
CMP as on 3rd feb 12 is 217.

Thursday, February 2, 2012

Bharati Airtel

                                                   Bharati Airtel (click to zoom the chart)

  In bullish trend as it has formed a double bottom at 320 - 330 level and also it is making higher highs on daily chart since the formation of that double bottom. It broke all it's important simple daily moving averages like 20, 50, 100 and today 200.
Also today it enjoyed higher volume than the average daily volume.
All above statements indicate that Bharati should kiss 400 in short term and also the long term trend looks bullish. Stop loss should be kept at 375 on long position.
CMP as on today was - 385.85

Wednesday, February 1, 2012

Mahindra Ugine

                                                         Mahindra Ugine (click to zoom the chart)

 Stock is in bullish trend also it closed in Upper Circuit today, closing above all it's important moving averages like 20, 50, 100 and 200 DMAs.
It has also formed a double bottom in 40-45 trading zone. One should buy this stock with target at 70 in short term with stop loss below 42.
CMP today is - 56.44