Hi Tony
The stock has broken out above all resistances & made a high of Rs.266 today. I am quite bullish on this scrip and want to increase my existing allocation, but would like to know if it makes sense to wait for a correction or to buy immediately.
Hi Tony
Atul Auto has corrected a bit and is now fluctuating between Rs.280-300 after hitting lifetime high of Rs.315. Will appreciate your technical as well as fundamental view on this stock. I have been holding it for a long time. Would like to know if I should add or hold or reduce.
| Col 1 | Col 2 | Col 3 | Col 4 | Col 5 | Col 6 | Col 7 | Col 8 | Col 9 | Col 10 | SECTOR | BSE 100 | AUTO | BANK | CON. DUR | CAP GDS | FMCG | PHARMA | METAL |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 79 | 91 | 92 | 73 | 90 | 50 | 59 | 90 | 89 | LOW | 73 | 82 | 69 | 64 | 75 | 40 | 47 | 80 |
Hi Tony,
Wish you a very happy new year! You have been a great support providing your valuable inputs with technical analysis which helped in selecting good entry and exit points.
I have a query on Ajanta today.Ajanta has corrected a bit in the last month to 900 levels and consolidating in 915-920 levels. Would it be a good buy at CMP?
Regards,
Rajarshi
Ajit,
I have given the levels and the trend of the stock in the analysis below. Nothing has changed and the short term momentum for the stock is down. Buy on dips.You can look for levels of 240 and 225. The latter is a strong support.
Tony
P I INDUSTRIES (250)
Since September 2013, this stock has been making Higher Tops and Higher Bottoms. This is a sign of bullishness. The stock is in the X column and on a BUY signal. It is also trading above the BULLISH SUPPORT LINE. It gave a BUY signal at 250 and touched 255. It has pulled back a little and taking support at 245 where it made a double top. Support exists at 245-215 and 200. With strong support, it can surely cross 255. A good stock to own fundamentally too.
On the candle stick the short term momentum has changed slightly with CCI falling from 267 to 221. The RSI is in overbought territory too at 72 and moving downwards.Can expect a slight correction which can be a buying opportunity. It has support at 246-229-210-164.
Tony
Hi Vijay,
Charlie Munger says "A great business at a fair price is superior to a fair business at a great price."
Technicals can help you get a good entry or exit point. You have to go into the fundamentals of a stock and analyse if the same is worth buying at a particular price or not.
You have to look a the Market and Sector too before BUYING OR SELLING a stock.
INDUS IND (417)
On the PnF charts the stock is in O column and on a BUY signal. It has support at 400 where it will make a triple bottom. This is a strong support. If it breaks this level then you can see levels of 390-370. Resistance is at 470.
On the candle stick, the short term momentum is down. RSI is at 62 and CCI at 45. It has broken the crucial support area of 422. If selling persists, and markets are weak, then one can expect lower levels as indicated above.
Tony
| Col 1 | Col 2 | Col 3 | Col 4 | Col 5 | Col 6 | Col 7 | Col 8 | Col 9 | Col 10 |
|---|---|---|---|---|---|---|---|---|---|
| SECTOR | BSE 100 | AUTO | BANK | CON. DUR | CAP GDS | FMCG | PHARMA | METAL | I T |
| HIGH | 79 | 91 | 92 | 73 | 90 | 50 | 59 | 90 | 89 |
| LOW | 73 | 82 | 69 | 64 | 75 | 40 | 47 | 80 | 78 |
Above is the Bullish Percent showing sector wise details for the month of December 2013. Any reading above 70 is overbought and time to get vigilant, while anything below 30 is oversold and time to make a list of Buys.
HDFC BANK (663)
On the candle sticks the stock is keenly poised. The area of 656 is crucial for the stock. If it falls below this level then more selling will emerge in the stock. RSI is at 59 and CCI - 55. Short term momentum is down for the stock.
On the Point and Figure charts, the stock is in X column and on a BUY signal. It broke the quadruple top of 680 and touched 720. Now the stock has pulled back and is trying to generate momentum. It has support at 620-590. Resistance is at 680 and 720. If it falls below 656, I am sure you will get lower prices.
The Nifty is not going anywhere except down. The Banking Sector too is showing similar signs. Its good to wait for lower levels.
Tony
Rajarshi,
Thank you for your feed back. It is very important.
Ajanta is my favourite stock and hence my views may be biased. Yes it has been falling. Personally I am a BUYER in this stock. The CCI (-155) is trending lower and entered oversold area. On the RSI (19)too the stock is highly oversold . Good to make small purchases at these prices. Look for a range between 880 to 910.
On the Point and Figure chart it has support at 920 and then at 780.
On the candle stick the stock is just taking support at the 50 day EMA of 915. I think this support should hold or else one can expect it to fall further.
Tony
Hi Tony,
What are the levels to watch out for yes bank? What range would be good to accumulate?
Regards,
Rajarshi
Tony,
What’s your take on Muthoot Finance n Manappuram finance tech charts.
YES BANK (339)
On the PnF charts the stock has support at 330 and then at 285 and 275. Below 270 the stock will turn weak as it will trade below the Bullish Support Line indicating a change in trend. Results due tomorrow.
On the candle stick charts, the stock is oversold on both the RSI which is at 22 and CCI at -290 . It is presently trading below all EMA’s. For long term, this stock presents a good opportunity to accumulate at lower levels as indicated above.
Tony
MUTHOOT FINANCE (139)
After the recent break out, the stock touched 150 and now is on a Pull Back. It now has support at 128-122 and 114. The last is a very strong support where the stock had made a Triple Top earlier. On the up it has resistance at 150 again.
On the candle stick, the RSI and CCI are both in the overbought region. A pull back is in the offing. The stock has support at 128-124 and 110 levels.
You may BUY at support levels above.
Tony
Manappuram Finance (20.60)
After making a triple top at 17 and double top at 19.50 the stock broke out. Currently in the X column on a BUY signal. It now has resistance at 23.50 and 25.50. Support is at 19.50 and 17 on the lower side.
On the candle stick, the stock has broken the 200 day EMA at 18.35 and is presently trading above this level. It has support at 19.50, 18.75, 18.40. The last support is very strong. If it falls below this, then one can expect more lower levels up to 16.00. Both RSI and CCI are in overbought territory and hence a Pull back is expected.
Tony
Tony,
I am not sure how did you come to know for Support.
I think support should be first 2200 and then 2100. And once it breach 2100, it will turn weaker.
Please correct me if my observation is wrong.
Kunal
Tony,
Your technical view on Hawkins Cookers pls
Regards
Kunal,
Its regarding your query of Hawkins. Lets start with October 2013 denoted by A. The first Resistance on the way up is 1850 where the stock made a Double Bottom earlier. Next Resistance will be at 2000 where it will make a Double Top. Next move will take you to 2150 where the stock earlier made a Double Bottom and then at 2300 where it made a Double Top once again. Now let us imagine that the stock has moved to O column. On the journey down the Support will be at 2000 where it made a Double Top earlier and next will be at 1650. The point to remember is that there should not be any other column of X or O in between when the stock is moving UP or Down.
I hope you will understand it this time.
Tony
Tony
Kunal,
One more area of Resistance was missed out by me. It is at 1800 too. It is an extended Double bottom. Observe that there is no column of X except the one which you are plotting on the way up as the stock makes its journey from 1700.
Tony
Hi Tony,
My first request on this thread. Little off the track from other valupickr ones. How are Castrol, VST Industries and Coromandel International looking on the charts? Please advise
Regards
Dear Tony,
Can you please give your TA on Astral Poly? Is it good time to accumulate more after some recent correction or is it likely to correct more ?
Sandip
Hi Tony,
Your TA on Ajanta has helped in selecting excellent entry points in Ajanta. This again emphasizes the importance of TA.
Astral has been consolidating in 316-325 levels since the past 3 weeks after reaching 348.How does it look on the charts? What would be good levels to accumulate?
Regards,
Rajarshi
Hi Tony,
Wish you a very happy new year! You have been a great support providing your valuable inputs with technical analysis which helped in selecting good entry and exit points.
I have a query on Ajanta today.Ajanta has corrected a bit in the last month to 900 levels and consolidating in 915-920 levels. Would it be a good buy at CMP?
Regards,
Rajarshi
Chaitanya,
I am glad to see your here on Valuepickr. Do not worry, its nice to track your own path rather than be one with the crowd. You can ask whatever query you have in mind.But I must say that the stocks researched here are simply amazing.Don’t take my word for that, it is best you experience it yourself.
CASTROL (303)
The stock has not done much for the last few months nor has participated in the rally.
On the Point and Figure chart, it is presently in the X column but on a SELL signal. It has resistance at 340-350-370. Support is at 290-285-275. It is trading just near the Bullish Support Line. If it falls below this, it will change the trend of the stock to bearish.
On the candle sticks, the RSI is at 39 and CCI -42. The CCI has just shown its upward move. If it moves further in the upward direction, then you will get a good upward move in the stock. Resistance is at 312 which is strong. Once it crosses 312 I am sure you will get a good break out. Let it cross 304 which is the 50 day EMA and you will get some appreciation in the stock.Support is at 300 and 303 presently.
Tony
