Saturday, October 29, 2011

Hindalco

                                                            Hindalco daily chart (click to zoom)
 Rising from double bottom, this bullish momentum should take it to 150 in short term.
CMP - 142

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

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

Kingfisher Airlines

                                                                kingfisher daily chart (click to zoom)
 Kingfisher Airlines on daily chart has today broken its 20 DMA with huge volume (higher volume today compared to average daily volume). Stock is heading towards 26 in short term. One should put a stop loss of 22.4 on long position.
CMP as on today is 23.3

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

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

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.