The short term momentum indicators are showing positive signs, and one can look forward to a new high. That is exactly what Astral is doing currently. Look at the CCI in the chart below. The moment it crossed over 100, it gave a break out. The RSI as well as the momentum indicators are all positive.
On the Point and Figure chart, the stock gave a buy signal after crossing 590. A new high is in the offing. Be patient and you will get a good price. Here is the chart.
There is good news for shareholders of Ajanta Pharma. The board is likely to consider a Bonus issue and hence one can expect the stock to rise further.
I am not a great fan of bonus issues. It just increases the capital. One can call it a book entry. However, lot of investors are fascinated with bonus issues.
Looking at the short term indicators, i will not be surprised if it crosses 1200. That was my initial target. Lets wait patiently and ride the rise. Seems more uptrend likely to follow.
The stock is currently trading above its 5 DEMA. The RSI is in over bought territory. The CCI is above 100 and there is more scope for a rise. Unless CCI returns to 100 levels there is no correction likely. Presently it is at 152. A drop below 100 will set in a correction. The Momentum indicator too is showing positive signs. It has risen from -172 levels to +212 levels. All in all a positive sign for a big jump.
[quote="onlycastel, post:145, topic:996262942"]
> Just an update on the bullish per cent chart readings as on 5th July, 2013:
>
> Col 1 | BSE SENSEX 100 | 27
> ---|---
>
> The table above shows that the FMCG Sector is the strongest performer along with Health Care. But if you are a long term investor one can find value in sectors which are showing the lowest reading:
>
> Remember that the numbers represent the per cent of stocks which are exhibiting a BUY SIGNAL.
[/quote]
The Bullish per cent readings for July 5 AND 16 are as under:
BSE SENSEX 100
BSE AUTO
BANKEX
CON. DURABLES
CAPITAL GOODS
FMCG
METALS
HEALTH CARE
REALTY
39
20
29
10
36
70
9
59
27
48
20
29
20
36
80
27
71
36
The 2 best performing sectors continue to remain FMCG and Health Care.
I have sent each one of you the book today. Please do make good use of it. I was able to learn Point and Figure charting within a few months. With daily dedicated practice I have made good progress. I am sure you all can do the same and become better investors. Happy reading.
Overwhelmed by your response to the book. Do give me your feed back on my interpretation of charts. This will go a long way in helping other investors at Valuepickr. Hope I can add more value to this wonderful blog.
The performance of the company has not improved much. As a lot of investors out here are following this stock, I thought it prudent to write an analysis of it.
All the short term indicators are showing negative bias, which once again confirms a down trend in the stock.
On the Point and Figure chart the stock is trading below its Bullish Support Line which shows weakness in the stock. It now has support at 165-160-155 and then at 140. If it falls below 140, then the next support is at 132.
I am surprised at the overwhelming response I have got. Really did not know that I had such a following. I received requests from so many for the book. Asking for the book and reading and applying it is a different ball game. I will be happiest when each one of you read and apply the principles explained in the book and become successful as investors. There are no freebies. The more you work at it, the better you will get.
As for me I am always there to help and guide you wherever I can. That is my promise.That is a pledge.
Today you must have seen Cera doing its bit. The stock hit a high of 548 and closed at 520. All the short term momentum indicators are in positive territory. Once again i maintain my levels of 570 for the stock. Hope the markets support it.
The short term indicators are all in positive territory. Today the stock hit a high of 620. As said earlier, this stock is going to make a new high shortly. Lets wait with baited breath.
