Dear Tony
What is your take on Ajanta Pharma? According to my table CCI cut -100 from below on April 7th and so triggered a buy signal. But it does not seem to have the strength to cross Rs 1000 and do you think it is going to break down?
Thanks
Hi Tony,
Thanks for all your teachings. What are your views on entry points for Alembic Pharma? Looking at the chart, I think it has good support at 250 and 225 which may be good entry points. Can you pls verify and guide?
Thanks.
Kunal,
ALEMBIC PHARMA: 270
On the Point and Figure charts, the stock is in the O column indicating more Sellers than Buyers. However, it is still on a BUY signal. The support is at 250-245-215. Resistance is at 300-310. Another feature to note is that the stock is a strong stock which is trading above its Bullish Support Line and making Higher Tops and Higher Bottoms. Such stocks are always a BUY on dips.
On the candle stick charts, the stock is showing strong support at 264 and 200. The RSI is at 38 and has started moving in the upward direction and the CCI is at -134 which is also showing upward bias after being in the oversold zone.
Tony
MAYUR UNIQUOTERS: 300
On the Point and Figure chart, the stock made a high of 360 and pulled back. Currently in the X column and on a BUY signal. The next resistance is at 360 the previous new high. If it can break this resistance then we are once again in new territory. Support is at 270-245 and 230.
You will notice that this is a very good stock which is consistently making Higher Tops and Higher Bottoms. Always a good buy on dips. Personally I bought it again at Rs.274.
On the candle sticks, the stock has support at 251 and 166. The RSI is presently at 53 and has reversed from a fall earlier and so is the CCI which has started moving upwards, is presently at -5. Can expect more upside from here.
Disclosure: I own this stock.
Tony
Ashwin,
AJANTA PHARMA: 987
The stock is currently in the O column on the Point and Figure charts. It made a double bottom at 980 and has been taking support at this level for a long time. The next support is at 940 and 780. Other than in the month of August-September 2013, the stock has been consistently making Higher Tops and Higher Bottoms. These are the virtues of a good stock. The resistance is at 1040-1080 the previous high. The stock has to trade above 1020 to once again attempt the previous high of 1080.
On the candle sticks, the stock has very strong support at 840. The RSI at 32 is still falling and CCI at -96 has slowly started moving upwards indicating that the stock can give a bounce back once again after a long period of consolidation.
With quarterly results round the corner, I don’t see why this stock should not move in the upward direction.
Disclosure: I am an investor in this stock.
Tony
Aksh,
I have answered your query on Alembic Pharma.
Tony
Tony,
Your analysis on Gruh after recent runup on bonus declaration followed by a sharp dip ? I am invested in the scrip and planning to increase my holding here? Is this the right time to incret the allocation or should I wait ?
Regards
Sandip
Sandip,
Gruh Finance 331
After making a new high the stock is on a PULL BACK. Currently in the O column though on a BUY signal. It has support at 280 which is very strong and then at 265. Resistance will be at 370 the previous high.
On the candle stick charts the stock has support at 330-290-280-240. If you will notice carefully the stock has been taking support at the 5 day Moving Average. It has formed a white candle stick at 330 showing support zone and can move up from here. RSI is at 65 and CCI at 145 are not yet giving clear signal of upward movement. But with increase in Volumes, it looks like the stock is taking support at 330 to begin its upward journey once again.This stock is always a BUY on dips. A very strong stock.
Tony
Thank you very much Tony for your timely reply…
Sandip
Sandip,
I am so touched with your reply. I truly accept your Thank You which means a lot to me. Very few react like you. An excellent virtue to have.
Tony
Thanks a ton Tony…It really helps.
Aksh,
Happy to know my analysis help. Such feedback goes a long way in self improvement.
Tony
Dear Tony
‘’ Canara bank meets with resistance at 270 a very strong resistance zone as it is the 200 day EMA’’
it is holding above that resistance level consistently , what is your view now [CMP 280]
My view is it will face tough resistance around 287 , then at 324 and 363. Support at 261 am i correct
DISC i hold
Thank you
Hello RK,
A pleasure to see you making an attempt at analysis. Go ahead. Mistakes happen, but they are installments to success.
Canara Bank: 281
On the Point and Figure charts, it has strong resistance at 290 where it had earlier made a triple top. Watch this level carefully. If it breaks this resistance, the next target is 340-380 and 440. On the Support side it has support at 260 which again will be a strong support and then at 210.
On the candle stick, it is trading above all the moving averages, like 5-25-50-200. Strong support is at 260-250-240 levels. The RSI at 65 and CCI at 84 are showing positive momentum. The trend for this stock is up. Hope it breaks levels of 290. The Bank Nifty too is showing similar signs. I don’t see any reason why this stock should hold back now.
Tony
Canara bank 287 261
Hi Tony,
I hope you have seen recent rally of Cera. What is your call on it ?
I believe it is already coupled with excellent fundamentals and encouraging guidance by mgt.
Kunal
Kunal,
CERA (1154)
On the Point and Figure chart the stock made a triple top at 900 and then gave a break out. Usually, Triple Tops are very strong resistance zones, and when a stock breaks out of this, it usually releases a lot of accumulated steam which takes it to a new territory. Yes, its true that the company has been coming out with consistent and good results. Hence the rally. Now the stock is in new territory and hence an upper ceiling cannot be put. Support exists at 900.
http://chartink.com/pointfigure/CERA.html Link: http://chartink.com/pointfigure/CERA.html
On the candle sticks too one can see that the stock broke out with huge volumes making a new high. The CCI is at 648 and RSI at 87, both in the overbought zone. It has also broken the Top Bollinger Band of 1023. I feel the stock should retrace and come within the band which happens 95% of the time.However, these things do not work sometimes.Lets wait and watch. The CCI will be our guide if there is any pull back likely to happen.
http://chartink.com/stocks/cera.html Link: http://chartink.com/stocks/cera.html
Tony
http://chartink.com/stocks/cera.html Link: http://chartink.com/stocks/cera.html
Tony
Thank you for timely response again. Cera looks heated stock and one can expect it to calm down. Only after that call can be made.
Tony,
My take on Page Industries on the Point and Figure Chart. Kindly let me know your views on this and also points where I have made mistakes
PAGE INDUSTRIES ( 02nd May 2014 ) : 5867
On the Point and Figure charts, the stock is in the X column indicating moreBuyers thanSellers. It is still on a sell signal where it has earlier made a double bottom at 6000 and then broke the support of 5900 ( earlier triple high) and slipped to 5600 where it again made a double bottom. The stock has a resistance at 6000 and then at 6600 and at 6700 where it will make a double top. If it breaks 6700 then it go on to make new highs.
There is a strong support at 5600 and then at 5500-5300. If it goes below 5300, it will break the bullish support line and become weak.
On the Candle sticks, the RSI is at 72 and on an upmove. The CCI is at -9.6.
Also, please let me know as per the charts does it look like a good entry point.
Regards
Vijay
Vijay,
You have hit the BULLS EYE. Fantastic analysis. Only one change. On Point and Figure the next resistance is at 6700 and not at 6600.
You can enter the stock, however, markets being volatile it will be better to take an entry after the election results. Once the stock crosses the 50 day EMA at 5911 it will gain momentum and will be in strong hands. If you wish you can make purchases in installments.
Also monitor the 5-25-50-200 day EMA. For short term traders 5 and 25 is helpful while for investors the 50 and 200 day EMA is very important.
I am very pleased with your analysis. It shows you are really working at it. Keep it up. Give some more analysis on stocks and I will help you for sure if you need any help.
Tony
Tony,
ASTRAL POLYTECHNIK ( 06th May 2014 ) : 558
On the Point and Figure charts, the stock is in the O column indicating moreSellers thanBuyers. It is still on a BUY signal.
It has a strong support at 500, where it had earlier made a triple top and then at 470. Below 470 it will become weak and can slide right upto 400 ( which looks improbable).
The stock has a resistance at 580.
On the Candle sticks, the RSI is at 70 and the CCI is at 135 showing the stock is in the upmove.
Regards
Vijay