SHRIRAM TRANSPORT (597)
Being a financial stock, the RBI policy will give direction to this stock. It has support at 586. If it breaks this support then lower levels can be expected.
The short term momentum indicators are showing more downward bias for the stock. Next support can come in at 560-550 levels. Keep a track of CCI which is presently 82 and sloping downwards. So is the RSI.
Tony
Hi tony ,
Can you please provide your analysis for alembic pharma and apollo hospital ?
hi Tony,
Could you throw some lights about scenarios when a stock is nearing / breaching its multi-year highs (5 yrs and above) from a technical perspective? Things like what to look out for, sector headwinds, precautions, redflags, false break outs, etc.,?
I usually have a lot of respect for a stock when it is approaching multi-year highs. The market is certainly indicating something here. Case of point is Zee (nearing 12 yr high) and Neuland Lab (closing in on 12 hrs high).
Regards,
Roberto
Dear Tony
Bajaj Corp is moving downwards. What do you think will be a good level to get in?
Regards
Hi Hardtoget,
ACCELYA (560)
This stock has seen a lot of volatility in recent days.
http://chartink.com/pointfigure/ACCELYA.html
On the PnF charts the stock has given a SELL signal and is in the O column. Next support is at 520-30. Resistance is at 620 and 700.
The stock has been making Higher Tops and Higher Bottoms and trading above the Bullish Support Line since August 2012. A good strong stock,buy around 520-30 levels if you have conviction in the stock based on fundamentals.
On the candle stick chart the stock is trading below the 5 day EMA, 25 day and 50 day EMA, keep a close watch for 510 the 200 day EMA, If the stock falls below this level one can expect a bigger correction. The RSI is at -29 and oversold, CCI is -118 and Momentum-56. In the short term, the momentum has a negative bias.
http://chartink.com/stocks/accelya.html
Tony
POLY MEDICURE (308)
http://chartink.com/pointfigure/POLYMED.html
The stock made a Double Bottom at 310. It is on a SELL signal and in the O column. Support is at 285-270-240. Below 265 the stock will turn weak as it will trade below the Bullish Support Line. Resistance is at 380.
http://chartink.com/stocks/polymed.html
The stock is below all EMA’s except the 200 day EMA which is at 262. The stock should take support here in the event of further fall. RSI is 4.9 and oversold. CCI is -190 and Momentum at -28. The stock has been falling on low volumes indicating the selling pressure is over. A bounce back can happen.
Tony
Couldn’t understand what is the reco here for a long term player at current price.
Buy or Wait or Sell?
SHILPA (266)
http://chartink.com/pointfigure/SHILPAMED.html
The stock is on a BUY signal though in the O column. After the stock made a break out at 215 where it failed 5 times earlier, it touched a high of 285 and is now on a pull back. Strong support exists at 215.
http://chartink.com/stocks/shilpamed.html
The stock is trading just below the 5 day EMA. It now has support at 255-236-200. The RSI is at 69 and close to overbought levels, however the CCI is at 25 and sloping downwards, hence the correction in the stock. Momentum is at 13. Keep a close watch on CCI which will show the direction of the stock. If the CCI continues to fall then some more correction can be expected. Below 200 which is the 200 day EMA, a strong correction can take place.
Tony
If you are a long time investors, you must have read in Valuepickr scorecard that the stock is a BUY. Whenever you see corrections in good stocks, then it is an invitation to BUY. One should do pyramid buying as Hitesh always suggests. Buy a small quantity initially, and with every fall keep buying larger quantity. This way you will end up getting the best average price.
First check the fundamentals of a stock. If they are in tact then fall in prices should be taken as an opportunity to BUY more.
Tony
Couldn’t understand what is the reco here for a long term player at current price.
Buy or Wait or Sell?
Tony
Hello Sourabh,
ALEMBIC PHARMA (192)
The stock has given a SELL signal at 195. It is in the O column indicating more sellers. It has support at 165-160-150. Resistance is at 215-220.
http://chartink.com/pointfigure/APLLTD.html Link: http://chartink.com/pointfigure/APLLTD.html
On the candle stick chart, the RSI is at 39, CCI -180 and Momentum -14. The short term momentum is down for the stock. Since the stock is oversold as per CCI, one can expect a bounce back. The stock can take support at 190 levels. If it falls below 149, then one can expect a big sell off.
http://chartink.com/stocks/aplltd.html Link: http://chartink.com/stocks/aplltd.html
Tony
APOLLO HOSPITAL (824)
http://chartink.com/pointfigure/APOLLOHOSP.html
The stock has given a SELL signal and is in O column. Next support is at 820 where it will make a double bottom, then at 800-780-740. Resistance is at 860-920-940.
http:/chartink.com/stocks/apollohosp.html
The RSI is at 40. CCI at -111 and Momentum is -9. The stock is weak and trading below all EMA’s. Watch for CCI to turn and then the stock should move up once again.
Tony
Hi Tony,
How does Dhanuka AgriTech looks as per TA?
Regards,
Sunil
Hi Sandriano,
I have attached an article which appeared in the Economic Times. This should help you. I personally do not lay too much emphasis on Technicals. It is an additional tool to make good entry and exits in stocks. I use simple tools which are being tested by me and implement them. I do not know much about red flags, head and shoulders etc. I want my teachings to be simple, so that it can be understood even by a child.
If the stock is backed by fundamentals, then it comes on my radar. A simple example. On Sunday I wrote that Poly Medicure was oversold and there were chances of a PULL BACK. The stock was quoting at 309. Yesterday it touched 335. This stock appears in Valuepickr Score card.
Hope you like the article. Do give me your views.
Tony
Stocks-at-52.docx (15.4 KB)
Dear Ashwin,
BAJAJ CORP. (206)
http://chartink.com/pointfigure/BAJAJCORP.html Link: http://chartink.com/pointfigure/BAJAJCORP.html
The stock is in X column but on a SELL signal. It is trading below the Bullish Support Line and hence a weak stock. It has been making Lower Tops and Lower Bottoms too. The stock made a pull back on good volumes yesterday.The next resistance is at 215-255-280. Support zones are 180-165-160.
http://chartink.com/stocks/bajajcorp.html Link: http://chartink.com/stocks/bajajcorp.html
The stock is trading below all the moving averages. The next resistance is at 212-227 234-245. Breaking 215 level is important in the short run. The RSI is oversold and so is the CCI and Momentum. The stock can rise as the CCI has begun moving up but has a long way to go. Currently it is at -192.
Tony
Hi Sunil,
DHANUKA AGRI (161)
http://chartink.com/pointfigure/DHANUKA.html Link: http://chartink.com/pointfigure/DHANUKA.html
The stock is in X column on a BUY signal. Resistance is at 165-170. Thereafter it can make a new high. Support area is around 150-140-134. Below 134 it will turn weak as it will trade below the Bullish Support Line.
http://chartink.com/stocks/dhanuka.html Link: http://chartink.com/stocks/dhanuka.html
The RSI is at 59, CCI at 5 and Momentum 5. The stock is consolidating and fell on low volumes. Watch for the CCI to change direction. Dhanuka is taking support near the 25 day EMA of 159. The next support is at 152 and then 139. Good to buy around 150-160 levels.
Tony
Thank you Tony.
Appreciate your TA skills.
http://chartink.com/pointfigure/DHANUKA.html Link: http://chartink.com/pointfigure/DHANUKA.html
http://chartink.com/stocks/dhanuka.html Link: http://chartink.com/stocks/dhanuka.html
Hi Tony,
How does Dhanuka AgriTech looks as per TA?
Regards,
Sunil
Hi Tony,
What do the charts speak about Astral,Alembic, Unichem and PI? Pardon me for putting 4 queries in a single question.
Regards,
Rajarshi
Hi Tony,
Whats your technical view on Paper Products…it has shot up from a range of 60 - 66 to about 72
Hi Rajarshi,
You do not have to worry about the number of queries, because it benefits a lot of other readers too. The more the merrier.
ASTRAL (316)
After breaking out of the Bearish Resistance Line at 275, the stock zoomed to a new high. Now it is taking a breather and trading in the O column. It still continues to be on a BUY signal. It now has support at 285 and then at 235. The chart displays good strength in the stock which has been making Higher Tops and Higher Bottoms. It is also trading above the Bullish Support Line.
On the candle sticks, it is trading above all the EMA’s. It has support at 303, 273, 260 and 220. The RSI is in overbought territory at 80 and CCI at 276. Momentum at 56. All the short term indicators are showing reversals and hence a short correction can be expected. This stock is a good BUY on dips.
Tony
Rajarshi,
I presume your query is about Alembic Pharma.
ALEMBIC PHARMA (210)
After giving a Sell Signal at 195 on the PnF charts, the stock reversed and moved up once again. Now it is in the X column though on a SELL SIGNAL. It has resistance at 215 and 220. Once again a new high is on the horizon if markets continue to move up. Support is at 195-165. A strong stock once again trading above the Bullish Support Line.
The stock is trading above all the EMA’s on the candle stick chart. Support at 206-201-192-152. With RSI at 55, CCI 120 and Momentum at 3, all positive but showing a downward movement, a small correction is expected. BUY on dips is the strategy for this stock too.
Tony
