Hi Castelino
I would like to ask about Dena Bank again ?According to my view about Dena is in up trend and P n f chart shows it will go up 64.if i am studying correct pls let me know .Till where should i wait to sell it? And what is the future of Dena bank and Orbit in Short term.
Mamta Jain
Hi Vishal,
Seeing you for the first time. Feel free to ask any query.
Let me take this opportunity to wish each one at Vauepickr A MERRY CHRISTMAS.
FDC (129)
This stock was a very slow mover and had been consolidating for a few months in the range of 80-92. Now the stock has broken out of that range and made a new high.
On Point and Figures, the stock made a Triple Top at 112 and then gave a BUY signal at 114. Thereafter it made a new high of 130. It is now in new territory. Support is at 112-104.
On candle sticks, the stock has support at 119-107. RSI is 83, CCI-398 and Momentum 22 all very positive. The short term momentum is UP although RSI and CCI are in overbought territory.
Tony
Vimal,
Have I seen you earlier?
Gruh Finance (252)
This stock has been making Higher Tops and Higher Bottoms. A very sound stock fundamentally too.
On Point and Figure, the stock is in the X column and on a BUY signal. Resistance is at 280. Support is at 248-240-234.
With RSI at 73 just in Overbought territory and CCI at 162 and Momentum at 15. Support zones are 248-240-234.
All in all a positive trend. Such stocks are always a BUY on dips to be included in one’s portfolio.
Tony
HI Mamta,
You can call me Tony.
DENA BANK (59)
On the Point and Figure chart the stock made a double top at 58 and then gave a BUY signal. It now has resistance at 64-66-72. Support is at 58-53-49.
On the candle sticks the stock has support at 58-56-55. It has to cross 62 and then 68 after which the stock will give a huge break out. Watch levels of 62 and then 68 carefully. RSI is at 74, CCI at 258 and Momentum at 3 all positives. The short term trend is UP.
Tony
Orbit Corp. (15.60)
This stock has been consolidating for the past 3 months between 14 and 18. Currently in the X column and on a BUY signal. It has strong resistance at 18 and 18.50 where it will make a Triple Top. Support is at 14.50 and 14.
On the candle sticks, the stock has been trading in the range of 5 day and 50 day EMA. Now it has to get past 18.40 the 200 day EMA. This is a very strong resistance area. Watch out carefully for this level. If it manages to break out from here, then it can easily touch 21. RSI is at 55, CCI at 193 and Momentum at .20. CCI is showing positive signs and hope the stock breaks 18 levels this time.
One should refrain from investing in such penny stocks.
Tony
Hi Tony,
Wishing you A Merry Christmas…
Regards,
Ankit
A MERRY CHRISTMAS.
Hi Tony
Though I am no Technical Expert. I was convinced Jayshree Tea was going to touch 100 or more based on the volume and took a fairly big position last month. After the results acme, the stock went down and I had to sell off due to fear of a big loss. Now it is doing the same thing and I could’nt resist myself ! Do you think I am being foolish or do you think the stock is really moving up? Somehow I feel it can’t fail this time. Also Shakthi Pumps? Does not that also look good?
Regards
Hi Tony,
Wish you a Merry Christmas n a happy new year.
You have been extra ordinarily helpful in answering every single query .
Many thanks. Keep up the good work.
God bless you n other similar tribe on this wonderful forum.
Hi Tony,
Thanks for TA on FDC. I wish you and all value pickers A Merry Christmas !!!
A MERRY CHRISTMAS.
Hi Tony,
Wish you merry Christmas. Thank you for answering every query on this forum.
Hi Tony,
Thanks for such a nice thread , can you please expain how colums change from X to O or O to X , It will be good if you can expain with some example.
Thanks , V
Hi Tony…
Thanks for your detailed analysis. Yes, we have interacted earlier too, where I sought your help for JB Chemicals, TTK Prestige and Yes Bank few weeks back. Your analysis is of great help to small investor like me. Thanks a lot buddy.
Regards
Sandip
Dear Ankit,Vivek, Vishal and Sunil,
I accept your warm wishes which made my Christmas a merrier one. Wishing you all the very best in the New Year. Thank you for being so thoughtful.
Tony
Hi Ashwin,
Jayshree Tea (89.60)
On the Point and Figure charts, the stock is in X column but on a SELL signal. It has resistance at 94-98-102. Support is at 78-74.
On the candle sticks the stock has begun trading above the 200 day EMA. The stock rose on huge volumes which usually happens when it crosses the 200 day EMA. Lot of traders take positions once this happens as they turn bullish on their trades. The stock has support at 88 which is a very important support. If it falls below this then once again it can have a big correction. Next support range is between 86-84.
Tony
SHAKTI PUMPS (76)
The stock after touching a high of 84 is now on a Pull back after a small correction. Next resistance is its previous top of 84. Support is at 70-64-57.
On the candle sticks, the stock shows support at 75-71-65-55. RSI is 42 and below overbought levels and so is CCI at 3. It will take a while for the stock to pick up steam and make an attempt to touch 84 once again.Presently in a state of consolidation.
Tony
Vishal,
I have answered this query on page 2 of this thread. I repeat it here once again.
Point and Figure charting follows the 3 box reversal system. Each box has a price point. In the case of Titan we have chosen each box to represent Rs.5/-. Therefore price is shown as 155,160, 165 etc. When plotting the X or O in each column, at the end of the day you have to ask two questions:
1). If the stock is currently trading in the X column, did the price rise by one or more box. If yes then you put an X in each box. Suppose the price rose from 260 to 265, then you will put only one X. If it rose by Rs. 20, then you put four X’s. If the price did not rise, or rose by less than Rs. 5, then you don’t have to do anything except ask the next question.
2). Did the price fall by Rs. 15/-. This is because we follow the three box reversal pattern. Each box is represented by Rs. 5/- so three boxes gives Rs.15/-. If yes, then change the column from X to O and leave a box and mark three O’s.
Now coming to our case study of Titan. Suppose the last traded price was Rs.225/-. We are in the O column and so at the end of the day we have to ask:
1). Did the price fall to Rs.220/- or more. If the answer is no, then ask the next question.
2). Did the price rise by Rs.15/- or more. If yes then one has to put the X in the respective boxes. As the last price was Rs.225 I added Rs.15/- which gave me Rs.240/-, so leave a box and put three X’s in the X column.
Hope my explanation is clear to you now.
Tony
Merry Christmas Tony, yes we have interacted earlier .
Rgds
Thanks tony for the prompt reply
it means the column will change only if the price change by 3*column value in other direction , Please do correct if my understanding is not correct
Hi Tony ,
Could you please look into the analysis done for Jayshree Tea
http://chartink.com/pointfigure/jaysreetea.html
Blue line is bullish line support and pink is bearish one. Stock is at X and its sell ( because its below bullish line support ) .
could you please explain (It has resistance at 94-98-102)
Thanks , V
Hi Tony,
Wish you a Merry Christmas. Can you please work out Technicals for Alok Industries and provogue.
Regards
Irshad
