Thursday 29 December 2016

Grasim Industries Ltd – On the verge of breakout.

No comments :
Grasim Industries Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 843 has touch the downward sloping trend line any trade or closed above the same stock price can rally towards previous high swing. Momentum Oscillator MACD has also given positive crossover, which add more bullishness for the stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above Rs. 848 for the target of Rs. 1036 levels, with Rs. 800 stop loss on closing basis.


Tuesday 27 December 2016

ITC Ltd – Double Bottom Pattern

No comments :
ITC Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 234.50 has given the breakout of descending triangle pattern, also we witnessed a double bottom pattern, indicate stock price can rally towards previous high swing, which look most likely. Momentum Oscillator MACD has given the positive crossover, which add more bullishness for the stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 234 for the target of Rs. 258 levels, with Rs. 222 stop loss on closing basis.


Monday 26 December 2016

Emami Ltd – Downward Sloping Trend Line

No comments :
Emami Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 989 is on the verge of breakout of downward sloping trend line at Rs, 990 level, any trade or closed above the same stock price can rally towards previous high swing, which look most likely.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above at Rs. 990 for the target of Rs. 1100 levels, with Rs. 930 stop loss on closing basis.


Friday 23 December 2016

Maruti Suzuki India Ltd – Downward Sloping Trend Line

No comments :
Maruti Suzuki India Ltd on a daily chart stock price is making higher high pattern also stock price is trading above the 20 DMA, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 5193 has given the breakout of downward sloping trend line at Rs, 5096 level, indicate stock price can rally towards previous high swing, which look most likely.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 5190 for the target of Rs. 5535 levels, with Rs. 5033 stop loss on closing basis.


Thursday 22 December 2016

BEML Ltd – Rounding Pattern Breakout

No comments :
BEML Ltd on a daily chart stock price is making higher high and higher low pattern also stock price is trading above the 20 DMA, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 968 has given the breakout of rounding pattern at Rs, 938 level, indicate stock price can rally towards previous high swing, which look most likely.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 968 for the target of Rs. 1100 levels, with Rs. 892 stop loss on closing basis.




Wednesday 21 December 2016

Mahindra & Mahindra Ltd – Downward Sloping Trend Line

No comments :
Mahindra & Mahindra Ltd on a daily chart stock price is making higher high and higher low pattern also stock price is trading above the 20 DMA, indicate positive outlook for the stock price. Technically on chart stock price at Rs. 1185.10 is given the breakout of downward sloping trend line pattern at Rs, 1168 level, indicate stock price can rally towards previous high swing, which look most likely.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 1185 for the target of Rs. 1300 levels, with Rs. 1140 stop loss on closing basis.


Monday 19 December 2016

Tata Chemicals Ltd – On the verge of Breakout

No comments :
Tata Chemicals Ltd on a daily chart price is making higher high and higher low pattern also stock price is trading above the 20 DMA, indicate positive outlook for the stock price. Technically on chart stock price at Rs. 489 is trading near the breakout of downward sloping trend line, any trade or closed above Rs. 491, price can rally towards previous high swing, which look most likely.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above at Rs. 491 for the target of Rs. 553 levels, with Rs. 468 stop loss on closing basis.


Friday 16 December 2016

Glenmark Ltd – Symmetrical Triangle Breakout

1 comment :
Glenmark Pharmaceuticals Ltd on a daily chart price is making higher high and higher low pattern also stock price is trading above the 20 DMA, indicate positive outlook for the stock price. Technically on intraday 60-minutes chart stock price at Rs. 930 has given the breakout above the upper trend line of symmetrical triangle or continuation pattern at Rs.914, with sharp increase in volumes, indicate rally will continue towards previous high swing.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 930 for the target of Rs. 990 levels, with Rs. 896 stop loss on closing basis.




Wednesday 14 December 2016

Axis Bank Ltd – Downward Sloping Trend Line

No comments :
Axis Bank Ltd on a daily chart price is making higher high and higher low pattern also stock price was trading below 20 DMA from last 3 months, yesterday price has breached the level, and closed above the same. Technically on chart stock price at Rs. 466.55 has given the breakout of the downward sloping trend line with sharp increase in volumes, indicate rally will continue for the multi month towards Rs. 554 level.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 466 for the target of Rs. 512/554 levels, with Rs. 442 stop loss on closing basis.


Tuesday 13 December 2016

Larsen & Toubro (L&T) - Technical Recommendation

No comments :
Larsen & Toubro (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector. This firm is likely to show better price performance in near term supported by good fundamentals and technical breakout.

On chart, stock prices are volatile. The stock hit 52-weeks’ high of Rs. 1615 in July 2016, then price revered low of Rs. 1295.10, in the month of November 2016, down by 19.80 percent from its 52-weeks’ high. Currently, stock price is trading at Rs. 1375.20. The stock price witnessed 6.22 percent rise in last month from the initial low. We feel that there is more room left on upside and the rally is likely to continue.
On chart, we witnessed stock price was trading below 20 DMA from last 28 trading sessions but yesterday price has breached the 20 DMA and closed above the same, indicate stock price has find the support level. If today once again price respect the 20 DMA, then most likely it will move towards previous high swing
Technically on a different time scale of daily & weekly chart stock price is making higher tops and higher bottoms pattern. Tracking Bollinger Band front price of. Rs. 1375.20 trading above the mid-band of BB, which will take stock price towards ‘Upper Bollinger Band’ and the bands are widening, indicate ongoing positivity will continue in the stock price.

On a daily chart stock price at Rs. 1375.20 has given the breakout above the upper trend line of symmetrical triangle or continuation pattern at Rs.1369, with sharp increase in volumes, indicate rally will continue for the multi month towards Rs. 1520 level.

The positive crossover spotted in moving average convergence divergence or MACD (a momentum and trend indicator) also suggest the formation of the next big move up in the stock over the next few months. RSI, which indicates inherent strength, it has more room upside, which adds further positivity to the index.  Most of the oscillator based indicators also point towards the bullish view of the stock price.


Looking towards the chart pattern and study i.e. Bollinger Band, RSI and MACD, we believe stock price may extend its rally towards Rs. 1520 levels, whereas Rs.1304 will act as a strong support level, which would be on closing basis.

HCL Technologies Ltd – Symmetrical Triangle Breakout.

No comments :
HCL Technologies Ltd on a daily chart price is making higher high pattern also trading above 20 DMA. Technically on chart stock price at Rs. 801 has given the breakout above the upper trend line of symmetrical triangle or continuation pattern at Rs.798, with sharp increase in volumes, indicate rally will continue for the multi month towards Rs. 847 level.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 801 for the target of Rs. 847 levels, with Rs.778 stop loss on closing basis.


Monday 12 December 2016

TCS Ltd– Downward Sloping Trendline.

No comments :
TCS Ltd on a daily chart stock price is making higher high pattern with increase in volumes. indicate rally will continue towards north. On chart, we witnessed stock price Rs. 2210 is trading near downward sloping trend line any trade or closed above Rs. 2216 stock price can rally towards previous high swing. Momentum Oscillator RSI has more room left on upside, which further add bullishness into stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above Rs. 2216 for the target of Rs. 2430 levels, with Rs. 2163 stop loss on closing basis.

Friday 9 December 2016

ACC Ltd– Downward Sloping Trendline.

No comments :
ACC Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes. indicate rally will continue towards north. On chart, we witnessed stock price Rs. 1379.15 has given the breakout of downward sloping trend line at Rs. 1342 level, show stock price can rally towards previous high swing. Momentum Oscillator RSI has more room left on upside, which further add bullishness into stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 1379 for the target of Rs. 1497 levels, with Rs. 1335 stop loss on closing basis.


Thursday 8 December 2016

Bajaj Auto Ltd– Downward Sloping Trend-line.

No comments :
Bajaj Auto Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes. indicate rally will continue towards north. On chart, we witnessed stock price Rs. 2780 has given the breakout of downward sloping trend line at Rs. 2730 level, show stock price can rally towards previous high swing. Momentum Oscillator RSI has more room left on upside, which further add bullishness into stock price.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 2780 for the target of Rs. 2920/3018 levels, with Rs. 2720 stop loss on closing basis.


Wednesday 7 December 2016

Godrej Industries Ltd– Range Breakout

No comments :
Godrej Industries Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes. indicate rally will continue towards north. On an intraday 60-minutes chart, we witnessed stock price was trading in a rangebound, but yesterday price has breached the level on upside, show stock price can rally towards previous high swing. Momentum Oscillator RSI has more room left on upside, which further add bullishness into stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 400 for the target of Rs. 430 levels, with Rs. 384 stop loss on closing basis.


Tuesday 6 December 2016

ONGC - Technical Breakout

No comments :
Oil and Natural Gas Corporation Limited (ONGC) is an Indian multinational oil and gas company headquartered in Dehradun. It is a Public-Sector Undertaking (PSU) of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas. Company is specializing in the exploration and production of crude oil and gas. The Company has joint ventures in oil fields in Vietnam, Norway, Egypt, Tunisia, Iran and Australia. The Group's other activities include deep sea explorations on the east and west coasts of India, and the exploration of coal bed methane. ONGC is likely to show better price performance in near term supported by good fundamentals and technical breakout.

On chart, yesterday stock price has hit 52 weeks of Rs. 299.75, also stock price is up by 20% in last 1 month, looks stock is in spectral uptrend, thus we feel   that there is still some more left and the rally is likely to continue. On a different time, scale at daily, weekly & monthly chart, stock price is making higher tops and higher lows pattern and trading above 20DMA (280), 50DMA (275) and 100DMA (255) respectively, suggesting it has potential up move in upcoming trading sessions, indicate positive outlook for the stock price.
Technically on daily chart, stock price at. Rs. 298.75 has given a breakout of rounding pattern at Rs. 297.70 level, and it’s moving towards northward direction, indicate ongoing bullish rally in the stock price, which will take stock price towards Rs. 328, which is 10 percent on upside. Applying other indicator on the chart like Bollinger Band (BB) we find stock price at Rs. 298.75 is ridding the ‘Upper Bollinger Band’ and the bands are widening, thus indicating positive momentum.

Momentum Oscillator, MACD (Moving Average Convergence & Divergence) on higher chart has given a positive crossover art, favouring the bullish view, which could witness the ONGC marching higher.
RSI (Relative Strength Index) 14-week on a weekly and monthly chart are in rising mode and not yet overbought, which has more room left on upside. The 14-week RSI also trade above its 9-week EMA, which is positive signal, indicate better perform in the weeks to come.
If one were to go by the volume data, then more up move seen on the stock price.

Looking towards the chart pattern and study i.e. Bollinger Band, RSI and MACD, we believe stock price may extend its rally towards Rs. 328/348 levels, whereas Rs.285 will act as a strong support level on a closing basis.


Bharti Airtel Ltd– On the verge of breakout.

No comments :
Bharti Airtel Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes. indicate rally will continue towards north. On a chart, we witnessed stock price is trading near the breakout of rounding pattern, any trade or closed above Rs. 330 level, stock price can rally towards previous high swing level. Momentum Oscillator RSI has more room left on upside, which further add bullishness into stock price.
If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above at Rs. 330 for the target of Rs. 359 levels, with Rs. 314 stop loss on closing basis.

Friday 2 December 2016

Eicher Motors Ltd– Closed above 20DMA and 50 DMA

No comments :
Eicher Motors Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes. indicate rally will continue towards north. On a chart, we witnessed stock price was trading below 20 DMA and 50 DMA from last 15 trading session but on Friday index has closed above the same, indicate stock price has find the support level. Momentum Oscillator MACD has given the positive crossover, which further add bullishness into stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs.22760 for the target of Rs. 24000/25300 levels, with Rs. 22200 stop loss on closing basis.


Wednesday 30 November 2016

Yes Bank Ltd– Trend Line Breakout.

No comments :
Yes Bank Ltd on an intraday 60-minutes chart stock price at Rs. 1173.85 has given the breakout of downward sloping trend line at Rs. 1164, indicate rally will continue towards Rs. 1210 level, further 1320. Likewise, stock price is making higher high pattern with increase in volumes. Momentum Oscillator MACD is heading north and given positive crossover, which further add bullishness into stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above Rs.1174 for the target of Rs. 1245/1320 levels, with Rs. 1140 stop loss on closing basis.


Tuesday 29 November 2016

Power Finance Corporation - Technical Outlook

No comments :
Power Finance Corporation funds power projects in India. The Company serves state power utilities, central power sector utilities, power departments, private power sector utilities, joint sector power utilities, power equipment manufacturers, and municipal power utilities. The company has successfully carried out developments, which is likely to show better performance, not only supported by good fundamental but also technical breakout. Last month company has announced its September quarter results which was in line with street estimate. Thus, we feel that this company is expected to provide good returns to investor portfolio.

On chart, stock prices are volatile. The stock made a 52-weeks’ low of Rs. 70.12 in February 2016, then price hit to 52 weeks’ high of Rs. 133.80, in the month of November 2016, up by 90 percent from its 52-weeks’ low. Currently, stock price is trading at Rs. 132.10, near the 52-weeks high, any trade above the same stock price can rally another 20 percent.
Taking place on different time scale at weekly & monthly chart, stock price is making higher tops and higher lows pattern and trading above 20DMA (121), 50DMA (121) and 100DMA (111) respectively, suggesting it has potential up move in upcoming trading sessions, indicate positive outlook for the stock price.
This week on a daily chart it also broken out of the long bullish pattern of inverted head and shoulder at Rs. 127.75 level and it’s moving towards northward direction, which will take it towards Rs. 177 level. Applying other indicator on the chart like Bollinger Band (BB) we find stock price at. Rs. 132.10 is trading above the upper band of BB, besides band is widening, indicating positive momentum.
Momentum Oscillator, MACD (Moving Average Convergence & Divergence) on a weekly chart, is on the verge to give positive crossover, favouring the bullish view, which could witness the Power Finance Corporation (PFC) marching higher.

The psychological sentiment towards the stock remains positive. If one were to go by the volume data, a higher upswing is seen on the stock price.

The stock is also looking positive on the higher chart, which foretells well for the long-term uptrend of the stock. We believe the stock has the potential to move higher in the coming weeks and therefore recommend a buy at CMP and adding more on dips.


Looking towards the chart pattern and study i.e. Bollinger Band, RSI and MACD, we believe stock price may extend its rally towards Rs. 170 levels, whereas Rs. 114 will act as a strong support level on a closing basis.


Idea Cellular Ltd– Trend Line Breakout.

No comments :
Idea cellular Ltd on a daily chart stock price at Rs. 79.50 has given the breakout of long downward sloping trend line at Rs. 76.50, indicate rally will continue towards Rs. 100 level. Likewise, stock price is making higher high pattern with increase in volumes. Momentum Oscillator MACD is heading north to, which further add bullishness into stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above Rs.79 for the target of Rs. 100 levels, with Rs. 68 stop loss on closing basis.


Monday 28 November 2016

Adani Ports Ltd– Parallel Channel.

No comments :
Adani ports and special economic zone Ltd on a daily chart stock price at Rs. 273.40 is on the verge of breakout of parallel channel at Rs. 274 level any closed above the same, rally will continue towards Rs. 310 level. Likewise, stock price is making higher high pattern with increase in volumes. Momentum Oscillator MACD is heading north to give positive crossover, which further add bullishness into stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above Rs. 274 for the target of Rs. 310 levels, with Rs. 262 stop loss on closing basis.




Friday 25 November 2016

Larsen & Toubro Ltd– Parallel Channel

No comments :
Larsen & Toubro Ltd on a daily chart stock price at Rs. 1366 is on the verge of breakout of parallel channel at Rs. 1366 level any closed above the same, rally will continue towards 1483 level. Likewise, stock price is making higher high pattern with increase in volumes. Momentum Oscillator MACD is on the verge to give positive crossover, which further add bullishness into stock price.


If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above Rs.1366 for the target of Rs.1483 levels, with Rs.1318 stop loss on closing basis.


Thursday 24 November 2016

Infosys Ltd– Parallel Channel breakout.

No comments :
Infosys Ltd on a daily chart stock price at Rs. 930 has given the breakout of parallel channel at Rs. 928 level and closed above the same, indicate rally will continue towards 1060 level. Likewise, stock price is making higher high and higher low pattern with increase in volumes. We also witnessed stock was trading below 9 SMA from last 22 trading session but yesterday stock price has closed above the 9 SMA, which further add positivity into stock price.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs.930 for the target of Rs.995 levels, with Rs.900 stop loss on closing basis.


Wednesday 23 November 2016

Berger Paints India Ltd– Downward Sloping Trend Line.

No comments :
Berger Paints India Ltd on an intraday 60-minute chart stock price at Rs.199 has given the breakout of downward sloping trend line at Rs,190 level, indicate rally will continue towards 243 level. Likewise, stock price is making higher high and higher low pattern with increase in volumes. We also witnessed stock is forming a rounding pattern, any break above Rs.205 price can touch the previous high swing, which look most likely.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs.199 for the target of Rs.243 levels, with Rs.177 stop loss on closing basis.


Monday 21 November 2016

Yes Bank Ltd– Lower Low pattern.

No comments :
Yes Bank Ltd on a daily chart stock price is making lower low pattern, also it has closed below the 150 SMA, indicate stock price has lost the support level. Through Retracement stock price has closed below 38.2% of retracement, now its heading towards Rs.1038 level, which is the 50% retracement, indicate fall will continue into the market. Momentum oscillator MACD is heading towards southward direction, which add more bearishness for the stock price


Trader can sell at Rs. 1115 for the target of Rs. 1038 levels, with Rs 1138 stop loss on closing basis.


Sunday 20 November 2016

Nifty: Correction likely to end in next couple of days. Watch 7890 on closing basis.

No comments :

It's been a long wait for the correction to end. We had called for 10% - 15% correction and it was during that time, Nifty was reluctant to drift lower. Now the situation has changed drastically; wherein everyone is in a panic mode. If things were to be analysed and believe, we are going to see a bottom in place in next few days. The up-trend that was in place since March is most likely to resume in the new expiry series of December. 

Once you find Nifty closer to 7900, buy 7900 DEC Call with a closing SL on Nifty spot below 7890 - 7880. 7890 holds the key to determine the future course of action.

Praveen Pathiyil

Wednesday 9 November 2016

Nifty Spot, Daily Outlook 10-11-2016

No comments :
It was an impulsive day yesterday benchmark Nifty made a low of 8006.90 level, and ended at 8432 level, but below the previous day closed by 112 points. Looking towards the 400 points move from day low, sentiment remain positive. Technically index is trading below 20 DMA and 50 DMA, but it has bounce back from the strong support level, indicate positive outlook for the index. For bulls to resume Nifty must closed above 8660 level, on the flip side 8400 will act as a strong support level.


For today, any trade above 8473, index can rally towards 8590 level, further 8680. Risky trader can accumulate Nifty at current level with 8400 Stop loss on closing basis.




Power Grid Corporation of India Ltd - Double Bottom

No comments :
Power Grid Corporation of India Ltd on a daily chart stock price is making higher high pattern, with increase in volumes. Also, we witnessed stock price is trading above the 20 DMA, indicate stock is well placed above the support level. On daily chart stock price, has given the breakout at Rs. 177 level, of downward sloping trend line, also we witnessed a double bottom, indicate rally will continue towards north, which will take it towards previous high swings.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 181 for the target of Rs.198 levels, with Rs 174 stop loss on closing basis.


Tuesday 8 November 2016

Nifty Spot: Closed within the triangle pattern, ended above 8500.

No comments :
Yesterday Nifty continued its previous day rally, adding 47 points ended at 8544 level, indicate positive outlook for the index. Technically index is trading below 20 DMA and 50DMA, but Nifty started making higher high pattern, indicate cautious view. On the descending triangle pattern front, index has closed within the channel, indicate any either side of the closed will confirm the trend. For bulls to resume Nifty must closed above 8660 level, on the flip side 8400 will act as a strong support level.

Ahead of US presidential election result, Nifty will be worried, also there would be huge volatility into the market. Stay limelight or avoid trading unless the volatility settles.


For today, any trade above 8560, index can rally towards 8640 level, further 8680. Risky trader can accumulate Nifty at current level with 8400 Stop loss on closing basis.