Wednesday, 30 November 2016
Yes Bank Ltd– Trend Line Breakout.
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
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.
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.
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
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.
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.
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.
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