Thanks Hemant.
Hemant,
Astral
“3.astralpoly - consolidating after a 15% correction. this stock has a habit of consolidation followed by a non-stop uptrend of 40-50% plus. next rally should carry it to 500+.”
Any idea on what is the typical timeframe for consolidation and What would be the trigger to know the start of the rally ?
Regards
hi suraj,
apologies for missing out on your previous question. i will cover it in my next update soon.
Good thread.So whats the updates n targets for Amar raja, Astral Poly,Mayur Uni ,Hawkins ,Unichem,FDC n other favorites of Valuepickrs
New year update:
1). ajanta pharma - time correction continues. as stated earlier, it seems to be creating a base for next uptrend which should carry it to 600+.
2). arshiya intern - range trading between 110-165 continues. watch out for a break above 165 which should carry the stock to 300+.
3.astralpoly - time consolidation between 345-410 continues. today, the stock made another attempt at the highs but closed in the middle of the range again. good volumes on the move today was an encouraging sign. stock seems to be gearing up to break the range. the next move should be to 500+. i would expect it to reach there in q1.
4). atulauto)- as expected earlier, the stock seems to be going through time correction to let the moving averages catch up. this is a very positive sign. next big move should be to 230+ on a break of 180.
5). balkrishna - the inflection point hinted at in the last update is close to being resolved. two consecutive closes above 303 should make the medium term outlook positive and a rally to 360 should follow else the range trading continues.
6). granules - as anticipated, we have seen a re-test of previous lows around 156. today’s good volumes are encouraging signs and a rally above 180 would signify an end of the correction and a rally to new highs should follow.
7). cera - 50 ema continues to provide support with the stock bouncing back from there yet again. for now, the time correction continues. a move above 450 should open the gates toward next uptrend towards 600+
8). hawkins - time correction continues with the stock’s second attempt at the highs failing. once the 2200-2400 range breaks, expect a move towards 2800.
9). kaveri seeds - sharp correction to below 1200 either marks the end of correction or the first leg A of a zigzag correction. move about 1370 would mean correction is over and first target then would be 1600. if stocks breaks 1200, expect a move towards 1050.
10). mayur - time correction between 450-500 continues. break of 500 should signal the end of correction and we should see 600-650 next.
11). page - the channel move continues with stock bouncing back from lower end of the channel. immediate resistance lies at 3600 while support is at 3200.
12). thangamayil - time correction in the 310-340 range continues.
adding a few more stocks to the coverage-
13). gruh - strong uptrend. any correction towards 200-210 range should be used to add to the position. next target is 280-290.
14). amara raja - stock continues to consolidate between 230-250 range. i would expect it to break the range in q1 and target 300+.
15). unichem - taking support at 50 ema again. next move should be to 250 provided stock doesn’t break 175.
disc : these are my personal technical thoughts. i may have interest in one or all of these. these are not recommendations to buy or sell. please do you own analysis before buying/selling.
Hi Hemant,
Great work!
Could you post a long term view of Coromandel Int chart?
Regards
Roberto
Hi hemant,
could you share which technical indicators you use for your analysis?
Roberts - will try and post it soon.
HG - Various things i use:
1). multiple time frames - daily, weekly and monthly charts all with daily closing levels.
2). Moving averages - 50,100 and 200 ema
3). RSI, macd to identify technical momentum
4). And above all I use OEW - objective Elliot wave theory
hi roberto,
coromandel int rallied in 5 clear impulsive waves from mar-09 to apr-11 to complete major wave 1. the stock went into correction mode for major wave 2 since then. the bottom formed in sep-12 was an important one which could have ended major 2. the rally that followed after that was not strong and was immediately sold into with the stock retracing almost all of the gains. the stock seems to have major support in 220-235 zone. i would ideally like the stock to touch this support zone once more before it rallies in major 3. the downside seems to be limited to 15% from current levels. targets for major 3 would be much higher once it starts. lets review it once the stock crosses 300 or gets back to the support zone.
Keep up the good work Hemant.
Have recently entered in Uco Bank, Aditya Birla Nuvo n IDFC in F & O section as trading bet n in Canfin Homes as delivery bet.
Could you give your valuable TA on these stocks?
Hi Hitesh,
My apologies for having missed on replying to you. You seem to have picked up Point and Figure charting. Yes the stock had made a triple top (3 “X”) at 150. Now the resistance becomes the support. So now Granules has got strong support at 150. It may change direction from 160 too where it has made a double bottom. We will wait and see.
hi Hemant,
Thanks for your valueble response. It is helpful.
Roberto
disc: I have vested interest in the stock asI hold positions b/w 263-273
Hi,
I just had a look at the chart of Tata Sponge and noticed something interesting. The 20, 50, 100 & 200 DMA are conversing at the same price point. Is this a percursor to something big?
Roberto
Thanks for the reply, Hemant.
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a few quick updates :
ajanta- the stock finally seems to be moving out of its consolidation after flirting with 50 ema for a while. good price action today on decent volumes. a close above 442 and stock should be in the next confirmed uptrend towards 600+
amara raja - the stock has finally broken the consolidation range after taking support at 50 ema. a close above 260 should confirm that the next uptrend is underway.
balkrishna - the stock has finally broken to the upside. next uptrend is underway with intiial target 360
unichem - took support at 50 ema and is now trying to inch up. close above 200 should confirm the next uptrend
hi hemant - what do you think of kajaria as a trading bet at current levels?
hi HG,
as mentioned in my earlier updates, kajaria continues to hover around the 50 ema. not a bad place to take a trading bet.
Thanks - I had overlooked the previous update. I’ve started experimenting with the 'price bouncing of the 50/100/200 emas for strong stocks in an upward trend. Lets see how this goes.
quick updates:
ajanta: gearing up for a big move now. immediate resistance at 418-425 and then at 450. stock needs to have a few good days to clear the resistances and also for the 50 ema to cross the 100 ema from below which would be a bullish cross. once done, we could see a multi-month move up to 600+
astral : did another test of 50 ema and held. continues to consolidate between the 350-410 range. looks like a good technical buy for anyone who missed it. 100 ema below at 333 should be stoploss
balkrishna : correcting after the big bang breakout. if it tests the 50/100/200 emas(all placed around 275), that would be an excellent entry point
mayur : testing 50 ema again
followup on the prev update:
as I mentioned in my previous update that ajanta was gearing up for a big upmove, that upmove has happened today. it should head to 600 next followed by 750 in the long term