GSPL Rising: Price At All Time High

GSPL Daily NSE Stock Chart Technical Analysis:

GSPL is at an all time high since it listed in 2006.  The price broke through its previous high in mid-August 2010 and has remained up.

The CMP on 5 Nov 2010 is Rs 119.1.

Market Outlook:  The price will remain sideways with possibility of minor fall on Monday market opening, as the price rise seems exhausted when Mahurat trading ended on 5th Nov '10.  When the price touches the line of support, one can buy and go long (buy n hold).

Technical Indicators:

Price is at an all time high in the 5 years of it being listed on NSE.

The previous high is now acting as line of resistance, as is visible where the triangle forms.

There are two lines rising which are acting as support and resistance.  These lines merge in mid-2011, which could be a decisive time for the price.

News:

GSPC Gas, a subsidiary of GSPL, already has the largest distribution network of gas in urban India.

GSPL has bid for 3 pipelines - Malavaram-Bhilwara, Mehsana-Bhatinda, and Bhatinda-Nangal pipeline.  If it wins any of these contracts, the price is going to zoom.  (Source: HDFC research paper)

Chart Source: www.moneycontrol.com

GSPL Daily NSE Stock Chart Technical Analysis

Jubilant Foods Resistance @ Rs 565

JUBILANT FOODS Daily NSE Stock Chart Technical Analysis

Jubilant Food is marching ahead since its IPO early this year.  Currently, the price is sideways since the last 3 months, topping close to the Rs 560 range.

The price fell on 5 Nov 2010, opening at 565 and closing at 552.65.

Market Outlook: The price is trying to break its high and climb upwards.  There is no buy-sell signal yet.  If price crosses Rs. 565 and stays up for 2-3 days, there might be a buy signal.  There is a price fall on 5th Nov but I feel this is short term profit booking and the price could rise again soon after a brief correction.

Technical Indicators:

The price has moved sideways since 3 months.  

Right now, the price is trying to break through its previous high.  The intraday highs have managed to do this since the past 3 days, but the price returns to close below the previous high.

If price closes above the  line as seen on the chart and remains above it for 2-3 days, there might be a signal to go long.

If the price falls for a few days, which seems unlikely, the support is available at Rs 465.

News:

Jubilant Foods has had a great quarter and a great year.  It is planning to expand the business and penetrate both wide and deep.  They are also adding accompaniments to the pizzas such as desserts and pastas.  Also, they have a range of low-cost pizzas as well to appeal to a larger audience.

The stock seems a good one for the long run, and should grow in 2011 as well.

(Analyzed on request of Mohan, Kolkata)

Chart Source: in.reuters.com

JUBILANT FOODS Daily NSE Stock Chart Technical Analysis