You are truly taking a lot of interest in your analysis. The more the effort, the more the benefit you will reap.
PIDILITE: (273)
The stock is poised precariously. If the markets do not improve, I feel it may break the strong support it has at 270 where its 200 day EMA is placed.
On the Point and Figure chart, the stock made a Triple Bottom at 275 and gave a SELL signal at 270. If it breaks the support as mentioned above, the next support level is at 255 and then 220. Below 255 the stock will turn weak as it will trade below the Bullish Support Line. Resistance is at 275 the earlier Triple Bottom and then 310 the earlier high.
On the candle sticks, as I said earlier, it has strong support at the 200 day EMA. This is a crucial support. Resistance is at 280. The stock can trade in the band between 270 and 286 till it gets a proper direction. The CCI is at -110 and RSI at 47. One has to watch this stock carefully and wait for some more time to get a clear direction.
The results are just out and will have to see how markets react to the numbers.
On the Point and Figure chart, the stock made a Double Bottom at 235 and gave a SELL signal and touched 225. Presently trading at 236, just above the Double Bottom. Resistance is at 260-265. Support is at 215 and 200.
The stock is placed just on the 50 day EMA which is giving it support. The next strong support is at 189. It can trade between the band of 220-250. RSI is at 58 and CCI at -53. The CCI is not giving a clear indication at the moment. Wait for sometime and then decide to enter at the levels mentioned above.
The stock is on a pull back. After making a new high of 550, the stock met with profit booking. Support now is at 440 and then a stronger support at 400 where, earlier it made a Double Top and will now make a Double Bottom. If it breaks this level too, then it can touch 370.
Resistance is at 550 where it will make a double top again.
On candle sticks, the stock has support at 456 and then at 414 and 340. The last support is a strong support at 200 day EMA. RSI is in overbought territory at 72 and correcting. The CCI has given a clear sign of stock correcting and is now at 66. Wait patiently and you will get a good entry at lower price points.
As for Manjushree, no idea as I am not following that stock.
VST Tillers and Polymedicure, have run up a fair bit in a short space of time. I was planning to enter these, but the upswing was quite quick. Do you think there could be a chance of correction, should I hold out, or should I enter now? Thanks!
One should avoid catching a running train. It is better to wait patiently for the next train to arrive.
Please remember that buying a share at a fair price is important. For example, nobody was interested in VST TILLERs when it was at 300+. See what happens when you miss such good opportunities. Imagine you buying it at the current price and what your gain would be. Even the best of shares bought at unreasonable prices will give you average returns. Having said that, please check the fundamentals and see if the price has captured the future growth or the current valuations are overstretched.
VST Tillers: (822)
On the Point and Figure charts the stock is on the BUY signal and in X column trading close to its new high of 840. It made a double top at 740 and broke out. It has support now at 740-660-620-580.
On the candle stick both the RSI at 83 and CCI at 138 are in the overbought region. CCI is showing signs of retracing and hence there is likely hood of the stock giving up some gains. It has support at 807-735-694-542.
Similar story with Poly Medicure. When small or amateur investors see the stock price rising, they feel that if they do not BUY they will miss the bus. When markets correct, then they realize what an unreasonable price they have paid and then rush to SELL.
POLY MEDICURE: (433)
On the Point and Figure, the stock made a DOUBLE TOP at 430 and made a new high at 440. Support now exists at 430-390-380. The last support will be strong as it had made at Triple Top earlier from where it broke out.
The RSI which is at 93 and CCI at 126, are both again in overbought zone. The CCI is trending downwards and hence expect a pull back. Supports are at 425-380-360-300.
I keep writing about CCI and its importance. Lets see what has happened with the NIFTY during the past 4 days.
DATE
FEB14
FEB17
FEB18
FEB19
NIFTY
6048
6073
6127
6153
CCI
-67
-37
8
57
You will recall that I always say it is time to BUY when the CCI cuts the -100 from below. Look at the above data. On February 18, the CCI crossed the -100 and became positive. See how the NIFTY has been rising with the rise in CCI from -67 to +57. A 100 point change.
Keep it simple. Track the CCI along with the other parameters and you have a winner. Another example is AJANTA PHARMA. It has been trading in a very narrow band February 5,2014. It has given a break out. If the markets hold on to the gains, then one can again see some rise in Ajanta.
@ tony dear Tony, thank u for introducing me to the interesting world of TA… got benefit in these 15-20 days period only…now i can enter at reasonable value… experienced with ajanta regards, rakesh
If there is a sudden increase in CCI as the Ajanta chart would indicate, without a corresponding movement in price, would that indicate an impending rise of the same. Also I have bought into Repco Home and the CCI movement is almost perfect and has moved well past -100 without any increase in the stock price.Is it because CCI is a precursor and price action might follow or is it that the other parameters are not supportive and so it was a false alarm? I had missed out on Accelya earlier and it seems to be the perfect time to buy based on CCI. Do you agree?
This is probably a very stupid question which has a verysimple answer, but_i have been mystified by it, so here goes anyway._
_What is CCI and how do you track it in the chartink charts? I can see RSI, but I cannot see CCI. On Google, it says “Commodity Channel Index”, but there is no reference to such an indicator in Chartink? _
Yes Samir, you are right CCI is nothing but commodity channel index. When it all started this indicator was primarily used in commodities only. But later people extended it to stock as well.
And a question is never stupid and it is stupid only when we dont ask.
These are very good and thoughtful questions you have asked. As for Ajanta, I have given you the reading of CCI for a few days. However, for one watching the stock closely, one could see that the consolidation was taking place over a period of time. It is like the pressure cooker. When the whistle goes, the pressure gets released. Same way you must have watched the price action in Ajanta yesterday. The sign of CCI moving upwards from negative to positive 100 was an indication of an impending rise. That is what I have been telling for long.
The same with Repco, the CCI had started moving upwards from around February 10, and the price was around 306. Yesterday it made a high of 345 and closed around 335. You have rightly concluded that CCI is a precursor and price action follows. You have to note these actions in a diary or book. Do some paper trading and you will then have confidence as to how it works.
As for Accelya, then trend is changing once again. However, the stock took support at the 200 day EMA. Keep note of CCI over a period of time and you will be able to enter stocks at the right time.
Please note that CCI is one of the indicators. I have earlier said that there are other factors to be taken account are:
The Market, The Sector, Then the Stock, The Bullish Percent, The Moving Averages both short term and long term, The RSI. I also read the Point and Figure along with Bullish Support Line and Bearish Resistance Line.
Kaveri Seed is still correcting. The CCI is still falling from +100 has now reached 45. Let it fall below -100 where you will get a good price to enter. If it does not fall to -100 but turns earlier, watch it closely and react accordingly. As for RSI, sometimes it acts in a divergent manner, but the reading of CCI should overrule it. If you see the chart today, both have started trending lower. However, CCI was the first to tell you a change in trend.
Patience is the key to success in stock markets. You may miss one opportunity, but there are several which will keep coming up. So don’t hurry.
You must have read the excellent fundamental analysis of this stock by Donald and team. Fundamentals backed by Technicals is a heady coctail.
This stock has been making Higher Tops and Higher Bottoms since May 2013 and trading above the Bullish Support Line. Recently it made at Double Top at 410 and gave a BUY signal at 420 to touch a new high at 460. Now it is in new territory and some more upside is expected. It has support at 380-285-275.
Both the RSI at 95 and CCI at 145 are in overbought zone. The CCI has fallen but once again shows signs of moving up. This tells the rise is not complete yet. But one can expect profit bookings at this stage. It has support at 419-335-300 and 225.
This is not the time to enter the stock. If you would have watched the charts, on February 3, the CCI was -100. That day the closing price was 249. Today it is 448. Fundamentals backed by Technicals gives a good entry point to BUY a stock.
I have also show the Bollinger Bands in the link to the chart. Watch how the narrow band of the Bollinger in which the stock has been trading since 30th September to February 6.When the distance between the Upper Band and the Lower Band is narrow. This is called a SQUEEZE. The price is least volatile. But when this happens, price action will follow leading to Higher volatility and a break out. This is called the EXPANSION. See how the distance between the Upper Band and Lower Band expanded. The upper band is at 461 and lower band at 182.
On February 6, the stock crossed the 20 day Moving Average, (the line between the 2 bands) into positive territory. Now watch for yourself the price action which followed.
The stock made a Triple Top at 470 and broke out to touch 490. In the X column and on a buy signal it has support at 440, 430, 350.
On the candle sticks, the support lies at 465,415,380,310. Both RSI and CCI are at 69 and 90 and trending lower. Chances are for the stock to move lower. The stock can trade between 510-340 range.
1). Both RSI and CCI are showing bullishdivergence over the last 2 months with lower bottom formation while there is continuous decrease in price.
2). Both RSI and CCI have turnedaround and looking up (40 and -45) respectively.
3). There is a good increase in volume yesterday on a 5 day chart (150,000 yesterday vs. 50,000) coupled with 3% rise in price.
4). Support at 1000 withstood this time too and it started to move up and closed above 1050.
5). The selling has at least abated, it consolidated around 1020 last week and started its up move with increased volumes.
Based on this, the stock can be bought for targets of 1080 and 1160 with a stop loss of 1020.
I thought this can be bought around 1020 after it hit 1005 and started moving up but wanted to make sure the up move with better volumes which happened yesterday.
Am I on the right path in analysing the stock and concluding that this can be bought? Thank you for your time.
Can you please provide TA on JSW Holdings? Recently theres very high volumes on this stock and in the past its known to make very quick upmoves in a short span of time.
