HESTER BIOSCIENCES (309)
After giving a SELL signal at 240, it crashed to 225. Thereafter what a smart recovery the stock has made. It touched a new high. Support is at 280-225. On the Point and Figure chart, the stock is making Higher Tops and Bottoms since June 2014. This is a bullish trend.
On the Candle Sticks, the stock has support at 303-286-255 and 245. The CCI is at 212 and moving upward although in the over bought territory. More higher levels can be expected.
Tony
First Thumbs-Up Tony bhai for your patience in answering each and every QUESTION.
I request your view on Ahmednagar forgings. Thank you
Subhajit,
My strong support will always be there.
VST TILLERS (1462)
The stock is in the X column currently, but still on a SELL signal. Made Triple Bottom at 1700 and broke down to give a Sell signal. Took support at 1380 and reversed. Strong resistance will be at 1700 where it made a Triple Bottom earlier. Next resistance comes at 1900-1950. Support is at 1380.
On the candle sticks, the CCI is at -82. The trend looking at the Bollinger Band is lower. Support at 1407 and 1180. Resistance is at 1555-1565 and 1575.
Tony
SUVEN LIFE SCIENCES (159)
The stock is already at a new High. Making Higher Tops and Higher Bottoms. Made a triple top at 126 and broke out. Support is at 126 which is very strong and then 114.
On the candle sticks, the CCI is in over bought territory at 341 and still moving up. Support is at 147-143-125. Some more steam is left in the stock. Watch for CCI beginning to make a U turn and move towards +100. That will be a Selling point.
Tony
Hi Tony, Could you share your TA on Capital First and RSS Soft please.
Thanks Tony for your valuable Analysis & happy Ganesh Chaturthi to you & your family.
Regards,
Subhajit
RK,
When i take the responsibility of writing on this blog, it is my duty to reply to each and every query.
Ahmednagar Forgings (364)
What a turnaround this stock has gone through in the past 2 months. From a high of 370 in June 2014 the stock hit a low of 245 in August 2014 and has risen from the ashes.
On the Point and Figure charts the stock now has resistance at 370 where it will make a Triple top. This resistance is very strong. If it manages to break this, then one can expect new highs. Support is at 300 and 245.
On the candle sticks, the stock gave a break out at around 325 and has crossed the Upper Bollinger Band. With the CCI beginning to trend upwards, there are more chances of stock touching 370 once again. The break out has happened on huge volumes too. A very good sign.
Support is at 350-336-300 levels.
Tony
Ramudu,
Here is my take on Capital First (279)
The stock is in the O column but on a BUY signal. It has support at 270-255-250. Resistance is at 290. Overall a strong stock trading above its Bullish Support Line for the last one year. Alsp making higher top and bottoms.
On the candle sticks, it has support at 260-244 and 200. CCI is at 95 and trending lower but not very clear as yet. The stock can take support at 270-260 levels.
Tony
R S Software (527)
This stock has been performing exceeding well. Since the last one year, it has consistently made Higher Tops and Bottoms. It broke the Bearish Resistance Line at 132 in August 2013, from where it never looked back. Currently in the X column although on a SELL signal. It has support at 510 and 420. Resistance is at 530-580.
On the candle sticks, the stock has support at 465-400. Resistance is at 532 and 610. The CCI is at 65 and trending lower. One can expect some more correction in the stock. However, its a good long term BUY.
Tony
It has been a while since I wrote on the blog. A lot of readers must be a worried lot, not knowing what to do. I understand the fear of each one of you.
Looking at the data available, the Bank Nifty is still heading down and so are the Mid Cap and Small Cap Indices. The silver lining are the defensive. Both IT and Pharma are still holding on. With the correction in the Bank Index not yet over, we could be heading towards 7880 or 7800 on the Nifty.
If 7800 does not hold, then on the Point and Figure chart there is support at 7500. On the candle stick charts, 7880 is the 50 day EMA. Let us see if this level holds. The next strong support will then be the 200 day EMA at 7200. Let us watch what happens tomorrow.
Tony
Hi Tony,
What’s your view on the Markets now? It has been able to stay over it’s support levels. VIX has been making tops and bottoms and currently it’s 12.83%.
Also how does Kaveri and Repco look from an accumulation standpoint?
Regards,
Rajarshi
Hi tony
I am biggest fan of your TA skills and your sharing approach.
I want your view on ajanta pharma and eicher motor.
Thanks
Anand
Hi tony
I am biggest fan of your TA skills and your sharing approach.
I want your view on ajanta pharma and eicher motor.
Thanks
Anand
Hi Tony, I am currently tracking Ashok Leyland. It has broken a bullish triangle on point and figure chart and subsequently broke a double top. I analyzed point and figure chart and the target seemed to be 57. As per the trend line, bullish resistance passes through 42 and also bullish support is at 38. Could you please let me know if my analysis is right? Also I have attached an image where in I have drawn bullish resistance line and bullish support line. Please let me know whether these two lines which I have drawn are right? Thanks, Subba
Hi Rajarshi,
It is nice to hear from you after a very long time. One thing I am certain is that you will ask about Kaveri, your favorite stock.
NIFTY (7946)
Nothing much has changed since I last wrote about Nifty. It has made a double top at 7800 which is acting as a support and then support comes only at 7500 on the Point and Figure charts. The latter support is very strong.
On the candle sticks, the Nifty is taking support close to the 50 day EMA which is 7890. Then very strong support at 7250 which is the 200 day EMA. CCI is -98 but moving in the upward direction which is a positive. On the Bollinger Bands, the Nifty can trade between 7885 and 8200 levels. Once it crosses 8050, then one can expect an upward move. Till then one can only see movements in the range of 7800 and 8050.
Tony
Kaveri Seeds (835)
After making a double top at 840 and 860, the stock gave a break out and touched 1020. Then it pulled back. Currently it is in the X column and on a BUY signal. Support is at 820 and 780. Resistance is at 880 and 1020 where it earlier made a previous high.
On the candle sticks, the stock has support at 833. Resistance is at 840 and 865. The CCI is still in oversold territory but moving upwards which is a good sign. On the Bollinger Bands, the stock can trade between 775- 1025. To give a break out the stock now has to cross 900. Always a good stock to accumulate on dips.
Tony
Hi Tony,
Can you give your TA on Ashiana Housing, Shilpa Medicare & CCL Products?
Thanks,
Ankit
REPCO (442)
The stock is in the X column but on a SELL signal on the Point and Figure charts. Next support is at 410-390 and 380. Below 400 the stock will become weak as it will trade below the Bullish Support Line. Resistance is at 460 and 510.
On the candle sticks, support exists between 430 to 395 zone. The CCI after being in the oversold territory has now moved in the positive territory. The stock can now touch 455.
The Bollinger Bands give a range of 415 to 455. As the stock has crossed 435, there are more chances of it moving in the upward direction. If it breaks the resistance at 460, it can once again test 510 the previous high.
Tony
Hi Tony,
Thanks for replying. Yes,Kaveri is one of my favorites the others being Avanti & Ajanta.
My gut feel is that the market won’t come below 7600. Every fall should be used as a buying opportunity and the next 5 yrs(probably 10 ) under Modi at the helm shall surely provide a lot of impetus to the market .This is a once in a lifetime opportunity for serious equity investors.
Regards,
Rajarshi
Hi Tony,
Could you please let me know whether my analysis on Ashok Leyland is correct. Awaiting for your reply
Thanks
Subba
