AARTI DRUGS (529)
The stock made a double bottom at 530 and now has given a SELL signal. Profit taking has entered the counter. The next support is at 480 and 450. Resistance will be at 530-540 and 570.
On the candle sticks, the stock finds support at 509, 470 and 460. Resistance is at 530-540 and 590. The RSI and CCI are both trending lower which indicates more corrections are likely in the coming days.
Tony
RELIANCE CAP (591)
The stock is seeing correction. The CCI at -145 is in oversold territory and RSI at 42 closing in on oversold zone. The stock has support at 587 and 560. Resistance is at 614-622-630 and 670.
On the Point and Figure, the stock has strong support at 580 and then at 510 and 500. Resistance is at 660 which is a very strong resistance. If it breaks 660 then one can expect a strong break out.
Tony
Hi Tony,
There were no freebies provided but fundamentally there was nothing for the market to react in the way it hast to the budget plan…Personally i feel market has overreacted…I have 20% cash and plan to deploy in these 3 along with Avanti…Kaveri and Ajanta are looking very attractive and i have already deployed 7% cash amongst these two. My gut feel is that as of now the budget plan is quite decent and we should focus on these strong counters and buy in 2 lots…one now and another lot if there is another round of correction from here…However I suspect if that correction is going to happen.
Regards,
Rajarshi
Hi Tony,
The markets correcting provide a great opportunity for accumulating Ajanta,Kaveri and Avanti again…
What should be the levels to lookout for and what is the general idea that you are having about the markets?
Regards,
Rajarshi
Rajarshi,
The Budget is just an event. Businesses do not function based on budgets. They have to have a long term plan. Same applies to an investor. One cannot take decisions based on budgets. They come and go. It is left to companies and managements to respond to the challenges which keep coming up on a day to day basis.
As long as the fundamentals of a company have not changed, there is no cause for worry. Keep buying fundamentally strong stocks on every correction. This is an opportunity one must accept and take.
Tony
Hi Tony,
Planing to enter PFS (PTC india finance ) please share TA how is it looking. for short term 15 to 30 days.
Ramudu,
Have you written here for the first time? Welcome!
PFS (33.95)
Certainly the chart looks good. The stock is taking support at the 20 day Moving Average. Looks like it is going to give a bounce here. The CCI is at 7 and RSI at 57. Both are trending upwards.This is a good sign. It has resistance at 38. Support is at 33.75-33-30 levels.
On the Point and Figure chart, it had given a SELL signal at 33. Still in the O column but this might change once the stock moves up. It has resistance at 34-38-39. Support is at 29.50.
Tony
Tony
I am impressed with your technical analysis in Point & Figure Charting. Request your good self to kindly throw some light on the technical analysis of Granules India Ltd. I have great expectations from this company fundamentally and would like to corroborate the same with TA.
Aravind Boddupalli
Tony
I am impressed with your technical analysis in Point & Figure Charting. Request your good self to kindly throw some light on the technical analysis of Granules India Ltd. I have great expectations from this company fundamentally and would like to corroborate the same with TA.
Aravind Boddupalli
Aravind,
Welcome to Valuepickr and Point and Figure charting. Thank you for your compliment and feed back.
Granules (605)
This stock has been going great guns. I too had it once at Rs.90/-. On the Charts, the stock made a double top at 580 and 600. If it breaks out from here, there can be a new high. Support is at 580 and 530. Since September 2013, this stock has been making higher tops and higher bottoms. A very strong stock have very good momentum with the trajectory in the upward direction.
The stock can now touch 620 on the Bollinger Band. Support is at 580 and 530. The RSI is at 77 and CCI at 127 just about entering the over bought zone. Both are trending upwards. One can expect a higher price in the short term. A very good stock to buy on every dip.
Tony
Dear Tony,
Thinking of entering into radico.
can you give some guidance ?
from point & figure also it is having good suport at 100
&fundamentally also download is very much limited …
Ashish,
Radico (102)
I agree with you that the stock has strong support at 100 where it will make a triple bottom on the Point and Figure Charts. The next support is at 98 and 92.
On the upside it has 104-108-124 as resistance zones. It is only in recent times that the stock has made higher tops and bottoms. But now it is nearly oversold. The stock is still in the O column with more sellers. I agree that the downside risk is not much.
On the candle sticks, the stock is oversold both on the RSI and CCI. It is taking support at the 5 day EMA. Resistance is at 108-112 and 121.
This is not a strong stock as it is trading below all EMA’s. It is always advisable to buy into strong stocks which are trading above 200 day moving averages and making Higher Tops and Higher Bottoms. The choice is yours.
Tony
Dear Tony, request your technical view on MM forgings and Capital First.
Thank you
M M Forgings (223)
On the candle sticks the stock has support around 220 and 198. Both the RSI and CCI are trending lower and hence one can expect more correction.
On the Point and Figure charts, the stock made a quadruple bottom and broke down. So it confirms weakness and more selling. The stock now has support at 200 and 175.
Tony
Capital First (242)
On the candle sticks, the stock is taking support at 240 levels. The next support levels are 225 and 214. Resistance is at 255. The CCI is at 98 and RSI at 67. It is not very clear from the CCI if it is moving upwards, but from the white candle one can make out that Buying is emerging once again.
On the Point and Figure chart the stock made a double top at 235 and broke out to touch 250. After some profit booking the stock retraced to 240 levels. Since March 2014, the stock has been making Higher Tops and Bottoms indicating bullishness. A good sign. One can expect new highs if the stock manages to cross 250. Support is at 235-220 and 205.
Tony
Tony,
I was looking forOversold stocks by Rising RSI and found one stock for short term bet
Indian hotels Co Ltd.
Can you provide your comments here ?
Kunal,
You have identified correctly an oversold stock. Good work.
Indian Hotels (96.25)
On the Point and Figure chart, the stock has just about taken support at the 50 day EMA. If it manages to hold on to it, the next resistance is at 100-102 and 112. It has support at 96 and 75. The CCI at -98 and RSI at 32 are in oversold territory but trending upwards. If the markets move up, there is no reason why this stock should not move higher.
On the Point and Figure chart, the stock made a triple bottom and gave a SELL signal at 96 and touched 94. It is still on a sell signal. It has resistance at 98-108-112. Since December 2013, the stock has been making Higher Tops and Bottoms which is a good sign.
Tony
** forOversold RSI ** Link: The Indian Hotels Company Share Price, EOD Chart for NSE & BSE
Hi Tony, Need TA onInternationalPaper APPM. may for 6 months time frame.
Hi Ramudu,
Andhra Pradesh Paper (254)
The stock is in the O column and after making a double bottom at 260, gave a SELL signal at 255. The next support levels are 250-245 and 240. Below 250 the stock will turn weak. On the upside the resistance is at 260-275 and 290. There has been no consistency in the price rise and fall and hence a long term trend has not been established.
On the candle stick, the stock has got oversold on the CCi at -236 and the RSI at 39 is still trending lower. One can expect lower levels from here. As you can see the stock is trading below all the EMA and now has broken below its 200 day EMA which is a strong support zone. One should look at buying this stock only when it crosses the 200 day EMA which is presently 263. Until then it will continue meeting selling pressure on every rise. Once it crosses 265, you can start looking at it if you wish to BUY.
It is best to avoid such stocks. When markets are at all time highs if a stock is trending lower, it does not augur well. The choice is yours.
Tony
onInternationalPaper
Hi Tony,
Though I am writing in for the first time on your thread, I have always appreciated the time n energy that you put in, in helping others.
Can you please take a look at the charts of Lloyd Electric & let me know your views.
Thanks again & regards,
Hi Tony,
Can you let us know your views / analysis on canfin and vst tillers ? They seems to be in consolidation phase…
Thanks
