Hii Tony …
can U pl tell us that from where any body can find bullish/oversold signal of BSE Sensex
n also is there ny facility to find out NSE bullish/oversold signal
can u update this forum on daily basis
I am giving an analysis of some sectors visa viz the BSE SENSEX 100 Bullish percent and their respective levels.
| Col 1 | Col 2 | Col 3 | Col 4 | Col 5 | Col 6 |
|---|---|---|---|---|---|
| DATE | BSE SENSEX | BSE 100 BULLISH % |
BSE BANKEX BULLISH % |
BSE PHARMA BULLISH % |
BSE FMCG BULLISH % |
| 18/01/2013 | 20126.55 | 80 | 100 | 89 | 90 |
| 26/03/2013 | 18758.88 | 26 | 14 | 38 | 50 |
| 31/05/2013 | 19760.30 | 56 | 50 | 59 | 90 |
From the above one can conclude that those who entered the market around March 26-28 would have benefited the most till date. Those who entered around 18th January would see their portfolios shrink in March 2013. Investors should wait patiently for the correction to happen and then take positions in sectors which trade below 30% and sell when it reaches over bought levels exceeding 70%.
Hi Sachin,
There is one more site in India which has linked up with Dorsey Wright and Associates.
Here is the link:
You can register and have a weekly update of your stocks.
Hi Vivek,
Analysis of SUN TV
http://chartink.com/pointfigure/SUNTV.html
Currently the stock is close to its 50 EMA and can bounce off it. It is also in the X column and has strong resistance at 450. If it crosses this triple top resistance then it can touch 490 and then create a new high.
If the stock reverses to 400 it will create a double bottom and the next levels can be 350 and 320. Below this level it can touch 285. After 320 the stock will lose momentum and become weak.
Hi Tony,
Please check Britania technically and throw some light.
regards,
sandeep.
Hi Sandeep,
Britannia gave an excellent break out at 590 where it broke out of an extended double top to make a new high at 740. Currently the stock is in O column showing more sellers than buyers. The stock now has support at 590 once again. If the stock touches 720 once again then the trend will change and it can test 740 once again and make a new high.
Keep a look out at 590 for entering the stock once again. If it falls below 590 then it has support at 570 and 540. One can stagger purchases at these levels.
Hi Tony,
Can you please provide analysis on HDIL and Jyothi Lab?
Regards,
Ramesh
Hi Tony,
I saw your all BSE SENSEX 100 Bullish percent-Bearish percent comments,so now in the current market condition what does your Bullish percent-Bearish percent say?
Regards,
Subhajit
Hi Subhajit,
Currently I am out of town and hence will be able to give you a reply on Monday. Thank you for the interest you have shown. Keep asking more questions.
Hi Ramesh,
Jyothy Labs is doing all the right things. If you see the chart, it is consistently trading above the Bullish Support Line which is a characteristic of a strong stock. Currently it is in the BUY SIGNAL and it is over bought at this level. It is meeting strong resistance at 210 where it made a double top. If the stock falls to 195, then there will be more sellers than buyers and it will be in O column. It has support at 185 and then 170. If it breaks support of 170 then it can go all the way to 145-155.
On the up side if it breaks 210 then it can make a new high once again. Good stock to buy on a pull back and on dips.
Here is the chart:
http://chartink.com/pointfigure/JYOTHYLAB.html
HDIL:
It is a very speculative stock and not worth a second look. It is very weak and may give a small bounce back and go further down. Avoid it.
Ok thanks tony…no problem
Hi Subhajit,
As more and more readers are taking interest, I took the initiative of preparing a Bullish Percent Chart in Excel Sheet for all of you. I have attached it to this reply. Currently the Nifty is in O columns showing there are more sellers than buyers. This is exactly how the Nifty is behaving and trending downwards. The moment it turns to X column one will see the Nifty moving upwards. However, it is still not in the lower regions ie around 30 where it is oversold and worth entering once again. Let us see what the Nifty does at this stage. On the candle stick it is showing that it is oversold. So lets wait and watch.
Similarly one can read the various Sector Bullish Percent shown in the excel sheet. Hope you all like it. Await your feed back.
BULL-charts.xlsx (16.5 KB)
Tony,
This is great!
Could you put this as a Google Spreadsheet, so that your updates are instantly shared with all of us.
Thanks,
Raj.
Hello Raj,
Thank you for your suggestion, however, I do not have any idea of doing a spread sheet on Google. As such this chart gets updated only twice a week and does not change frequently as it is dependent on a wider basket of shares. I feel my updates on excel sheet should suffice. Non the less, I am ready to learn how to do the spread sheet on Google too.
Tony
Tony,
Whichever suits better for you is fine.
FYI - For creating Google Spreadsheet, login to drive.google.com with your gmail id.
You can upload excel files and convert them into Google sheets. The advantage is that you can share the document with others by providing the link.
As an example, I have uploaded a copy of BULL-charts to Google Drive and made it shareable . Anybody having access to this link can view the document :https://docs.google.com/spreadsheet/ccc?key=0AgkO83nN37BxdDAzYm55X3Q4dFJBZDlCVEZPRHpKdmc&usp=sharing
Regards,
Raj.
AJANTA PHARMA:
Looks like the stock is in for a mild correction. It can take support at its 50 EMA at 849 and the next support is at 800. Those who sold at higher levels can get a good entry point once again.
http://chartink.com/pointfigure/AJANTPHARM.html
On the candle sticks the stock looks oversold once again with RSI at 18.53 and the CCI also at -331. The point to note is that the stock is very strong and has traded above its 50 EMA right from December 2012 and above its 200 EMA for over a year. These are characteristics of Leadership Stocks which are candidates for BUYS on every dip.
On the Point and Figure charts too, it has traded above the Bullish Support Line( marked in blue) for over a year.
Tony,
Would love to know your views on Atul Auto… Fundamentally as well as technically?
Regards,
Ankit Gupta
As I have always said, while buy stocks one has to look at the Market first, then the sector and then the individual stock. Fellow readers on this blog would be interested to know what the Nifty is doing presently.
http://chartink.com/pandf.php?name=nifty
From the chart above, one can see that the Nifty is presently in the O column, which indicates more sellers than buyers. Now the next support is at 5500. This is also close to the Bullish Support Line which is at 5450. Any movement below this will see the Nifty fall in a big way as weakness will creep in.The next support is at 5400 and then 5250.
http://chartink.com/stocks/NIFTY.html
On the candle stick charts, it shows Nifty very close to 200 EMA at 5765. Today Nifty closed at 5789, so let us see if this level holds. As per RSI and CCI, both indicators show over sold positions. Let us hope the Nifty takes support at 5765 or else we will see levels of 5500- 5250 as mentioned above.
Hello Ankit,
I would not like to write on the fundamentals of this stock. There is enough material on the thread relating to this company. My contribution to this will not be much, however, I will surely give you my technical analysis
ATUL AUTO:
http://chartink.com/pointfigure/531795.html
Currently the stock is in X column and on a Buy Signal. The stock will change to O column only if it touches 180. Nothing much has changed for this stock at the moment. On the up side it has resistance at 200 and if it breaks this, then it can once again test 225. On the down side it has supports at 175,165, 155 and 140.
http://chartink.com/stocks/531795.html
On the candle stick, one can see that the stock is currently very close to the 50 EMA at 182. If it breaks this level then it has support at 166 ie 200 EMA. Good to enter the stock at 166-180 levels. Do keep on eye on the Markets too. Currently there is lot of weakness in the market, so do not buy in a hurry.
Hello Tony,
Thanks a lot for your continuous contribution on technical analysis. After reading/following your tutorials on point-&-figure, i am sure a lot of valuepickr’s have benefited immensely.
In your analysis, you do mention about candle-stick, 50/200 EMA. Could you please provide some tutorial on candle-stick as well ?? Or if it is already discussed in valuepickr in detail like point-&-figure, please provide the pointer. If its the case that we can grasp candle-stick by reading material from internet, please provide some link to elucidate it.
http://chartink.com/pointfigure/531795.html Link: http://chartink.com/pointfigure/531795.html
http://chartink.com/stocks/531795.html Link: http://chartink.com/stocks/531795.html