Hi Tony, How does chart of IndusInd bank and HDB [HDFC ADR] looks to you ? Both are at RSI of around 40.
Hello Rohit,
I could not reply earlier. I was out of town and just returned yesterday.
Gruh is a good stock for the long term. I do not use the 150 day EMA but use 50 and 200 day EMA for long term trends.
As for PnF charts, the stock is currently in X column and gave a BUY signal at 235. It is consolidating, and any break out from here, will take the stock to 250. If the market conditions are good, it should touch this level. It has support at 210 and 200.
http://chartink.com/pointfigure/GRUH.html Link: http://chartink.com/pointfigure/GRUH.html
On the candle sticks, the stock is close to its 5 and 25 day EMA of 229 and 225 respectively. It should take support at these levels or the next levels are 222 and 217. Look for CCI to cross 100 and then you can be sure of a break out. The CCI is currently at 60. A good stock to BUY and HOLD.
http://chartink.com/stocks/gruh.html Link: http://chartink.com/stocks/gruh.html
Tony
Hi Vipul,
As for the ADR of HDFC Bank, wait for it to cross the 50 day Moving Average of 33.40. Above this, it can touch the 200 day Moving Average where it will find resistance. If it manages to cross the 200 day Moving Average, then it can start a new move to higher tops.
Indusind Bank:
http://chartink.com/stocks/INDUSINDBK.html Link: http://chartink.com/stocks/INDUSINDBK.html
The stock is trading below the 5 and 25 day EMA. The short term momentum is down. However, some buying seems to be coming into the stock. The RSI and CCI are turning upwards. Keep a close watch on CCI. If it continues to rise upwards, then one can be certain that there is an upward move coming in the stock.
On the Point and Figure chart, the stock is in O column and hugging the BULLISH SUPPORT LINE. If it falls below this, then there is more weakness likely to come in the stock. Next support is at 390-370-350. On the upside the Resistance will be at 460-470.
Tony
http://stockcharts.com/h-sc/ui?s=HDB Link: http://stockcharts.com/h-sc/ui?s=HDB
http://chartink.com/stocks/indusindbk.html Link: http://chartink.com/stocks/indusindbk.html
Hi Tony, thanks alot for your analysis. Even was crossed by 50EMA from below. Does that have any significance? I remember you mentioning that in Shilpa charts some time back
Rohit,
Yes it does big time. Usually you will see a lot of stocks giving break outs when the 50 day EMA cuts the 200 day EMA from below. This tells that the Long Term Momentum is upwards.
For the short term, use the 5 and 25 day EMA.
Corollary to the above, when the 50 day EMA cuts the 200 day EMA from the TOP, it signals the long term momentum down wards. For short term use the 5 and 25 day EMA.
Some use the 150 day EMA too. Each one has their own way of doing things, which I respect.
Tony
Dear Tony, Now that the VIX is in the lower range, Is it an appropriate time to take some profits from our long term portfolio?
Hi Tony ,Can you tell me about VIP .i bought it at 61.now should i hold it or sell it.
Hi Tony, Thanks alot for comments.
Dear Saji,
Your analysis is perfectly right. One can see that the INDIA VIX is low and the Markets are trading at its highest.
http://chartink.com/pointfigure/INDIAVIX.html Link: http://chartink.com/pointfigure/INDIAVIX.html
Personally, I churn my portfolio and remove some dud stocks at this point of time. This also gives me liquidity, and wait for the markets to correct or BUY into stocks whose fundamentals are intact.
It is left to each one how to react. Some may book profits and enter the same stock at a lower price point or simply hold on to stocks which are doing well. I do not BUY stocks when the Markets are High, but wait patiently for the correction to set in. Wait for panic and you will end up getting the best prices.
Tony
Hello Mamta,
Seeing you for the first time. A warm welcome to Valuepickr. Here is my analysis of VIP.
VIP INDUSTRIES (55.80)
http://chartink.com/pointfigure/vipind.html Link: http://chartink.com/pointfigure/vipind.html
The stock is currently in the X column but on a SELL Signal. Next resistance is at 57 where it made a double bottom earlier. If it breaks this level, then the next resistance is at 62-66. Support is at 52.
http://chartink.com/stocks/vipind.html Link: http://chartink.com/stocks/vipind.html
The stock is trading just below its 25 day moving average of 57.11. Once it crosses this level and the CCI touches 100 then one can expect the stock to touch 62 levels. Watch out for CCI which is currently at -91.6. This is a good indicator for momentum.
Looking forward to your queries often at this post.
Tony
hi Tony, How does RSWM looks to you on charts, thanks,
Hi Tony Could you please give TA on Tata Elxsi. Looks like a good fundamental pick as suggested by Hitesh. Thanks
With the markets correcting for the past two days, I thought about analyzing the Nifty. As I keep writing over and over again, one should first see how the markets are fairing.
NIFTY:(5999)
http://chartink.com/stocks/NIFTY.html
The Nifty is trading below its 5, 25, 50 day EMA. The moment it fell below its 50 day EMA at 6034, the big correction came in. So where does one go? The 200 day EMA is at 5890. This will be a strong support. In the event the Nifty breaks this support, then one can expect a big correction. On the RSI the Nifty is nearly oversold and so is the CCI which is currently -143. Expect some more corrections with the expiry due next week.
http://chartink.com/pointfigure/NIFTY.html
On the PnF charts the support exists at 5750 if the Nifty falls below 5890. The next support is at 5550. Currently the Nifty is on a BUY signal but in the O column indicating more Sellers than Buyers.
Tony
Hi Dinesh,
Have not received your queries in the past. Do ask regularly.
RSWM (144)
http://chartink.com/pointfigure/RSWM.html
The stock is taking support at 144. If it breaks this level then the next support zones are 136 which is very strong and then at 128-116. The 200 day EMA is at 127 and personally I feel the stock should not fall below this level as it has always respected this level since May 2013. But one never knows with Mr. Market.
http://chartink.com/stocks/rswm.html
On the candle charts, the stock is perfectly perched on its 50 day EMA. Any fall below this will take it to levels indicated above. RSI is above oversold levels but CCI is -127. If CCI begins to trend upwards towards 100, then the stock can start moving upwards once again.
Tony
Hello Saji,
Tata Elxsi (226.90)
http://chartink.com/pointfigure/TATAELXSI.html
The stock is in the X column and on a BUY signal indicating more Buyers than Sellers. The next resistance is at 240 and then 250. Support is at 220 and 195.
http://chartink.com/stocks/tataelxsi.html
The stock is close to its 5 day EMA of 225. Next support around 217 its 25 day EMA. Any fall below this will take it to 206 and 199 its 50 day and 200 day EMA.
Tony
Hi Tony,
How does Atul Auto look on the charts. It has had a great run-up since its quarterly results. Is it the right time to buy the stock.
Rgds
Vijay
Vijay,
Atul Auto has been making new highs recently. The momentum in the stock is intact for the present.
http://chartink.com/stocks/531795.html
The RSI is presently in the overbought region at 76 and CCI too at 124. Any correction in the stock should be used to accumulate. The support levels are 287 and 260 in the medium term.
http://chartink.com/pointfigure/531795.html
On the Point and Figure charts the stock is in the X column and on a BUY signal. The next resistance is at 300. Supports are at 270-260 and 235. Such strong stocks are a BUY on dips.
Tony
Hi Tony,
Thanks for your analysis on Atul Auto.