Sunday, October 28, 2012

Oil India Ltd

                                                                Oil India daily chart (click on chart to zoom)

On daily chart, stock is forming narrowing wedge pattern which is a bullish pattern if stock breaks out of wedge that's above the upper trend line (blue line). Stock is trading above all its key moving averages which also adds weight to the break out. As shown in the chart there rounding bottom formations indicating buy on dips by smart traders or investors on at lower price. Stock didn't participate in recent bull run so expectation is that it should now move up.
Stock can be bought at CMP (489 as on 26 oct 2012) for the short term target of 520-530.
Stop loss at 470-475 recommended.

Wednesday, October 24, 2012

Hindustan Unilever Ltd

                                                                HUL weekly chart (click on chart to zoom)

HUL on daily chart is moving up since last couple of weeks. On its recent uptrend the stock is forming rising triangular pattern. This triangle is an indication that smart traders/investors are selling the stock on every rise or in other words shares are getting transferred from strong hands to weak hands. Rising triangular pattern is therefore a bearish pattern. Stock can be sold at CMP (570 as on 23 oct 12) for target of 550-540.
Stop loss should be kept at 585-590.

Bank of India

                                                                BOI daily chart (click on chart to zoom)
 
 BOI is in down trend since last two years making lower lows on daily chart. Stock is trading below its key moving averages like 20, 100 and 200 but above 50 DMA. Stock is making narrowing triangular pattern which may break on either side. Stock if breaks down can be shorted with stop loss at 307 and for target of 282.
CMP - 298 as on 23 oct 12

Sunday, September 16, 2012

Bank of Baroda

                                                               Bank of Baroda daily chart (click on chart to zoom)

 On daily chart, BoB has formed a FALLING WEDGE pattern which is a bullish sign. On friday, it broke out of that pattern indicating fresh upmove in short term. Stock has also broken out of all its key moving averages except 200 DMA. Stock can be bought at CMP (680) or every decline till 660 for the short term target of 730-750.
Stop loss at 650 recommended.

Pantaloon Retail

                                                            Pantaloon retail daily chart (click on chart to zoom)

On daily chart Pantaloon has formed a triple bottom as shown in chart. This bottom is in formation since november 2011 with increase in daily trading volume since that time as seen in the chart. Stock is still trading below its key moving averages which is a reason of caution in short term, but in medium to long term stock looks bullish from this level due to triple bottom formation which acts as a strong support downside. Increase in volume indicates accumulation of stock by smart traders/investors at low price.
Stock can be bought at CMP or in every decline below  CMP (160) till correction upto 140 for the target of 200 in medium term.
Stop loss at 135 recommended.

Monday, September 10, 2012

Excel industries

                                                             Excel industries daily chart (click on chart to zoom)

On daily chart Excel has formed a bottom near 60-66 price band. Also stock is making higher highs from the base indiacting uptrend in coming days. Stock is trading above triangle as shown in figure and waiting for breakout upside. Stock is also trading above all its key moving averages which is also a bullish sigb. However stock may or may not behave as our analysis says as stock trades with very low volume.
High risk traders can buy this stock with price target of 80 - 82 in short term.
Stop loss at 66 recommended.
CMP - 72 as on 7 sept 12.

Monday, September 3, 2012

Exide Ltd

                                                 Exide daily chart (click on chart to zoom)

 Trading in TRIANGLE which is narrowing indicating breakout or breakdown on daily chart. Also trading above all its key moving average which indicates bullish sign. Traders can wait for breakout or buy on CMP for target of 150-155 in short term.
Stop loss at 127 recommended.
CMP - 135 as on 31 august 12.