Thanks Tony for prompt n quality work . Adding a few more names like Kaveri, GRUH, page n Styrolutions . Sorry for being greedy.
Dear Vivek,
Now coming to your last stock from your previous query Tata Consultancy, here is the analysis.
http://chartink.com/pointfigure/TCS.html
The stock is in the buy signal and can touch 1550 where it will make a double top. If it breaks this resistance, then it will make a new high once again. However, looking at the markets in the coming week I do not expect that to happen.
If the stock falls to 1380 and breaks this level, it will give a sell signal and the downward journey can halt either at 1300 or 1200. If it breaks 1380 then it will fall below the Bullish Support Line marked in blue and it will turn weak once again. From the charts we can see that the stock has been making higher tops and higher bottoms which are signs of a strong stock. The stock is presently close to its 50 EMA 1470 and if it breaks this then the next fall will take it near its 200 EMA at 1383.
I am pleased that you are asking me so many queries. The more the merrier. I welcome more readers to do this often. I only hope i am of help to you all
Dear Vivek,
Coming to your latest request of analysis. Here is an analysis of Page Industries.
http://chartink.com/pointfigure/PAGEIND.html
The chart is a treat to watch. Rarely has Page traded below its Bullish Support Line. This a characteristic of a strong stock. It has consistently made higher tops and higher bottoms.
Currently the stock is in a Buy signal but in the O column indicating that there are more sellers than buyers. The stock has strong support at 3600 where it has made a triple top. If it falls below that level then the stock can test 3200 and 3100 respectively. However, at 3200 it should meet strong support where it will make a triple bottom. In the event the stock breaks 3100 then it can touch 2800.
On the up side it can once again touch 4000 where it will meet resistance and then create a new high. The stock is above its 200 EMA 3670 and 50 EMA 3391. So look out if these levels get broken.
Hi Vivek,
GRUH FINANCE:
This stock has got an amazing chart. It has consistently traded above the Bullish Support Line since October 2011. This is a sign of a very strong stock. Currently the stock has given a buy signal at 225 and the next likely target is 250. Support exists at 190 and then at 175. It is close to getting over bought and hence be patient and wait and buy this stock on dips whenever possible. Fundamentally too it is a very good stock to own.
Here is the chart:
Hi Vivek,
I have not heard from you. Just trying to complete your queries. Today is the turn of Kaveri Seeds.
This is another Leadership stock which has consistently traded above the 200 EMA since April 2012. This stock is in the league of Cera, Gruh, Sun Pharma, Ajanta Pharma. The message is to buy such stocks on dips and if possible close to its 200 EMA.
http://chartink.com/pointfigure/KSCL.html
The stock has given a buy signal at 1320 where it broke the triple top. Now the next stop is 1550. Currently the stock is nearly over bought and hence better to wait for a dip. If the stock reverses from here then it has strong support at 1300 and then 1220.
Hi Tony,
What are your on La Opala, Wim Plast and Atul Auto? What can be a good price to buy more/enter into the stock?
Regards,
Ankit
Hi Ankit,
La Opala has been doing the right things since August 2012, trading above its 50 EMA which is very good. Currently it is close to its over sold position too.
http://chartink.com/pointfigure/LAOPALA.html
The stock is in the X column after changing from a Sell signal. The next resistance is at 360 and then 390. If it breaks 400, the stock will gain momentum. There is every chance of the stock touching 440 once again where it will make a double top and then make a new high too. On the down side it has support at 320-300. If it breaks these supports then a free fall to 270 is possible.
Many thanks Tony for your incisive analysis . One more analysis namely Page Industires hit pay dirt n shot up 10% today.
What price shud we add page more ?
Also your views please on Kajaria n Indusind Bank please.
Have been holding BOB since long @ 230 . What does the chart says for it n also Sun TV?
Hi Vivek,
I am going to alternate between Ankit and your queries. This time I am taking Kajaria.
Here is the chart:
http://chartink.com/pointfigure/KAJARIACER.html
The stock has given a Buy Signal. The next resistance is at 240 which is an extended quadruple top. This can act as a very strong resistance. If it breaks this level then the stock can touch 260 once again. For this to happen you need a strong market.
On the lower side it has support at 220-225 and if it fails to hold this level then it can once again test 195 and 180 levels. It will also mean that the stock has lost momentum and begun trading below its Bearish Resistance Line marked in red.
Hi Ankit,
WIMPLAST:
The stock is currently trading close to its 50 EMA at 364. I hope it holds this level. The stock is currently in a Buy Signal but in the O column indicating more sellers than buyers. It has support at 360, 340 and then 310.
On the up it will meet resistance at 400-410 and 420. It has to break 420 decisively to make a new high once again. I hope it holds 360 levels where it is close to the Bearish Resistance Line. If it falls below this it will get weak once again. Its 200 EMA is also at 343. Keep a close watch at both 364 and 343 levels for signs of weakness.
Kajaria already 246 
Hope it touches 260 now
Unichem continues to slide below all DMAs. Closed around 163 today. What are the technical views on this?
Hi Rohit,
You are absolutely correct in saying that Unichem is trading below its 200 EMA. However, it is near oversold levels as seen from the RSI and CCI.
http://chartink.com/stocks/unichemlab.html
Now let us see how it looks on Point and Figure charts. The stock has given a sell signal and broken a quintuplet support at 170 and an extended double bottom at 165. The stock is currently just below its Bullish Support Line too. On its downward journey it has support at 155, 140 and then 132.
On the upside it has to touch 180 and only then it will reverse into X column. It will then meet resistance at 190. If it crosses this level then one can expect 210. With the markets turning weak I see more of a downward bias. Let us see what Market has to say.
Here is the Chart:
Hi Tony,
First of all many thanks for helping everyone out…your analysis have been very good.
Regarding Unichem, its been lebelled as a stock with limited downside and yet it keeps going lower. It gives a chance to buy cheap but I am a bit surprised why is market ignoring the growth.
Bought today at 162. Plan to buy more at 155-157 next.
Hi Vivek,
RE: BANK OF BARODA
The chart shows that the stock is extremely weak. It is currently in the SELL signal and nearly oversold. Some more downside can be expected. The next support it has at around 640 and then at 620 where it will make a triple bottom. If it breaks this bottom then one can expect more downside. However, it has previously held this support and I hope it holds this time too.
On the upside it has to touch 740 as of now. If it gives a break out above 740 then the upside is 880. Let us see how markets play out next week.
Hi Rohit,
It is my pleasure to be of some help to all who read my analysis. Feed back is very important. Do accept my thank you for the same. If you or any of those reading my analysis need any help or assistance feel free to ask for more. The more the merrier. Knowledge should be shared freely. I do not hold a patent on it.
This is one blog I feel more comfortable. The attitude of every one out here is to help the other. This is an amazing virtue in a Selfish World.
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Thanks Tony for th kind work. BOB seems in a oversold category. It’s giving a dividend of 21.5 Rs n getting ex dividend on 14-15 June 2013 giving an yield of 3.3%. Shoudl I hold out till then n may be the scrip moves back from oversold category also??
Hi Vivek,
When the scrip goes ex-dividend, usually it has a bigger fall than compared to the dividend yield. The choice is yours. This has been my experience.
I have been writing that while buying shares, one should look at the market and then the sector. I maintain a chart of BULLISH PERCENT for the BSE Sensex 100. My observation are as follows:
In April 2013 the Bullish Percent was 33 in the first week and rose to 69 in the second week of May. Currently it is 56 as on 31st May 2013.
For those who do not know Bullish Percent, it means that out of the 100 stocks which constitute the BSE SENSEX, in April 2013 first week only 33 stocks were in a BUY SIGNAL. Similarly in May second week 69 stocks were giving a BUY SIGNAL.
The best time to enter the market is when it is around 30 or lower and exit when it has crossed the 70 mark. Those investors who enter and exit at these levels will do well in the market. The 30 percent mark is oversold region and 70 mark is over bought region.
In January 2013 first week, the BULLISH PERCENT had reached 84 and then corrected to 26 in last week of March 2013.
The BSE SENSEX on these dates was as follows:
18/01/2013-----20126.55
26/03/2013-----18758.88
31/05/2013-----19760.30
Looking for more feed back from readers.