Opto Circuits Weekly: 1-5 Nov 10: London Bridge is falling down, falling down

OPTO CIRCUITS Weekly NSE Stock Chart Technical Analysis:

Opto Circuits closed this week positively.  It opened at Rs 290 and closed at Rs. 302.75.

Market Outlook:  

• The price will fall back next week.
• Hopefully, it will stop at or above Rs. 284.
• Don't buy this stock right now, the price is going to fall further.  

Technical Indicators:

• Price is getting Fibonacci Fan 23.6% support, which will be around Rs. 284 for the month of November.
• Downside Gap Three Candlestick pattern has formed, confirming continued bearish trend next week.
• If price falls below Rs. 284, the next point of support will be at Rs. 265 which is the Fibonacci retracements support point.

OPTO CIRCUITS Weekly NSE Stock Chart Technical Analysis:

Kovai Medical Weekly: 1-5 Nov 10: Indecisive Moments, Support @ Rs 126

KOVAI MEDICAL Weekly NSE Stock Chart Technical Analysis

Kovai Medical closed at Rs. 141.10 after opening at Rs. 143 for the week 1-5 Nov 2010.

Market Outlook:  

• The price is moving sideways and indecisively.
• No buy-sell signals.
• Rs. 134 and Rs. 126 are important support points for the price.  If it falls below these prices, there might be no recovery soon.  But this is unlikely to happen in the next week.
• Buy above Rs. 180 if other indicators show positive signals as well.

Technical Indicators:

• Double bottom at Rs 126
• Price is currently taking Fibonacci 50% support @ Rs. 134
• Price has remained above its 20 week moving average after 2.5 months.

News (Fundamentals):

• Very good Q2 results with good increase in both sales and profits.  
• This should improve the price soon and help the stock break its sideways movement and become bullish.

KOVAI MEDICAL Weekly NSE Stock Chart Technical Analysis

Indraprastha Medical Weekly: 1-5 Nov 10: Not Looking Good

INDRAPRASTHA MEDICAL Weekly NSE Stock Chart Technical Analysis:

Indraprastha Medical closed lower this week at 44.50 after opening the week at 45.70.

Market Outlook:  

• The market should go sideways next week. 
• Don't buy immediately, no signals yet.
• Good buy if it jumps Rs 55. 
• Exit / go short if it goes below Rs 43.

Technical Indicators:

• A trend triangle has formed.  The angles of which are at 47.50, we can see that the stock faced resistance at this point and dropped below.  
• The next decision making point is depicted by the blue dot on the chart.
• If the stock falls and remains below Rs. 43,.its a good opportunity to short.
• A double top has formed at Rs. 54.  If stock climbs above 55, its a good opportunity to go long. 

News (Fundamentals):

• Bad results with lower sales than last year and lower profits and lower earning per share show this is not a good time to enter this stock.  

INDRAPRASTHA MEDICAL Weekly NSE Stock Chart Technical Analysis

Fortis Healthcare Weekly: 1-5 Nov 10: Rising up, Buy above Rs. 190

FORTIS HEALTHCARE Weekly NSE Stock Chart Technical Analysis:

The stock price climbed up this week, opening at Rs 161.25 and closing at Rs. 167.30.

Market Outlook:

• The price will move upwards in the coming week as well and close higher than opening.
• Rs. 190 is a good point to enter this stock but this might take 2-3 weeks to reach.
• Next week price should reach around Rs. 174 levels.
• The price has support at Rs 155 but I don't expect this support will be required as the price is expected to move up only and not down.  

Technical Indicators:

• Fibonacci 23.6% support at Rs. 154
• Bullish Rising Three Methods Candlestick pattern has formed.  The pattern is weak and not exactly as per definition but the price should start moving up again this time.

News (Fundamentals):

• The Q2 profits are very healthy and the market is jumping in on this stock.  
• The profit surge has happened because of stake sale, so next quarter is not going to show similar profit, leading to disappointment.
• Has created reserves by selling its stake and is planning to acquire Hyd based Care Hospitals to increase presence in S. India.  The company is showing an ambitious face.

FORTIS HEALTHCARE Weekly NSE Stock Chart Technical Analysis

Apollo Hospitals Weekly: 1-5 Nov 10: Strong Support @ Rs 510

APOLLO HOSPITALS Weekly NSE Stock Chart Technical Analysis:

Apollo Hospitals ended this week with a fall, but most of the market has not shown interest in the falling of this stock.  The bullish sentiment around Apollo Hospitals is high even though the price seems to have fallen.

The CMP of Apollo Hospitals on 5 Nov 2010 is Rs. 521.20.

Market Outlook:  

• The price will reverse from this point and the next week will close higher than it opens on Monday.  
• There is very strong support at Rs 510. 
• If you plan to buy Apollo Hospitals, this is a good time to get in as the price is not expected to fall below Rs 510.  In case the price does go below Rs 510 during any trading session, buy immediately.

Technical Indicators:

• The price is strongly supported at Rs 510 and ideally will bounce back upwards from this level onwards.
• The Fibonacci  78.6% and Fibonacci Fan 23.6% crossover at Rs. 510 and we can see that the stock price is staying above this level since 4 weeks.
• The Fibonacci Fan 23.6% line is expected to act as the line of support for the next rise in the stock price.

News (Fundamentals):

• Turnover and profits are increasing consistently.  
• Apollo Hospital is also planning to venture in Tier II and Tier III cities and 1500 beds and 350 pharmacies in the next two years.  
• There is also the 12% stake of Malaysia based Khazanah Hospitals, major stakeholders in Asia's most profitable hospital chain.  
• The medical tourism business is also growing and Apollo is expected to be a major beneficiary due to its brand value.
• The only downside is the high fixed costs of running a hospital.  If the management goes lax on cost management it might lead to loss of profit and affect the company financially. 

APOLLO HOSPITALS Weekly NSE Stock Chart Technical Analysis

Seamec stuck between Rs 165 and Rs 139

SEAMEC Daily NSE Stock Chart Technical Analysis:

Seamec closed sideways again on 4th Nov 2010 (This chart is not reflected Mahurat trading on 5th but it does not make much difference to the analysis)

The CMP of Seamec as on 5th Nov 2010 is Rs 153.65.

Market Outlook:  

• The stock price is volatile and sidways since a long time.  The next week will see another sideways movement with not much different from this week's close @ 153.65.  
• For now, there are no buy-sell signals on this stock and I recommend to wait before taking any move on Seamec.

Technical Indicators:

• There is dual support available to the price at Rs 139.  There is a support line from a previous low and there is the Fibonacci 50% support as well.
• A long term diagonal support line has fallen below Rs 139 in late August and is no longer offering support to the company's stock price.
• If the price rises, it can meet resistance at Rs. 165, which is the Fibonacci 38.2% level in the current retracement.

News (Fundamentals):

• Seamec has posted a loss in the previous quarter, and results of this quarter are awaited.
• The company has announced 30% dividend.  From what I gather, this is the first dividend in 12 years.  This might simply be an attempt to generate interest in an otherwise uninteresting stock, or the company may actually be upto something.  No news about it yet.
• There is no significant news about the company.  The market will move in some direction, either up or down, after news of the quarterly results comes out.
• Unless the quarterly results show that there is a change in the sales or income of the company, or any big deals are announced, there isn't much scope for Seamec to gain in the near future.

SEAMEC Daily NSE Stock Chart Technical Analysis


(Analyzed on request of Sreeni, Bahrain)

Airtel Weekly: 1-5 Nov 10: Support @324 will Rise this week

BHARTI AIRTEL Weekly NSE Stock Chart Technical Analysis:

 Airtel closed with an Inverted Hammer formation this week and was traded without much interest throughout the week.  

The CMP at end of week is Rs. 329.50.

Market Outlook:  

• The next week, we will see the price taking support at Rs. 324-326 levels, after which the price will rise again.  This is positive news after more than a month, as the price began its fall in late September.
• This is going as analyzed.  Last week, I had analyzed that Airtel will fall this week and rise in the next week.  This week the price has fallen and is expected to rise back next week.
• Buy if price crosses Rs. 332.
• Sell if price falls below Rs. 320.
• (Buy or sell only if price remains above or below these levels for 2-3 days without showing any signs of return, or there is a strong signal from other technical indicators).
• If the price starts rising, it should rise until Rs. 376 where it faces resistance.

Technical Indicators:

• The week ended with an Inverse Hammer Candlestick with low trading interest.
• The Fibonacci Arc 38.2% is acting as support for the price and will most definitely signal a reversal and the price will move up again.
• The short term moving averages are close to each other and a good move can be expected soon, most probably upwards.
• If the price manages to fall this week, the support will be at Rs. 300 - 305 levels.
• If the price rises then by Dec end it will face resistance at Rs. 376 levels.

News (Company's Fundamentals):

• The market is awaiting the launch of 3G services.  If this is well taken up by the market, the company's revenues will go up in all quarters of 2011 as compared to the current year.
• The company's quarterly results are not very good when looking at the results.  The net profits of the company are down.  But the reserves have moved up which is good as this allows the company to make big moves in the market in 2011 in terms of acquisitions and launching new services.   All eyes are right now on 3G and if it can work magic for Airtel.

BHARTI AIRTEL Weekly NSE Stock Chart Technical Analysis

Dabur Weekly: 1-5 Nov 10: Support @ Rs 96

DABUR INDIA Weekly NSE Stock Chart Technical Analysis:

Dabur India closed the week with a spinning top candlestick.  Trading was at one of its lowest in the past 4 months.

The week closed at Rs. 100.10 (This chart only shows updation upto 4th Nov 2010 which closed at Rs. 99.6).

Market Outlook:  

• The price has good support at Rs. 96.  By end of next week, this should be achieved and the price will bounce back from here.  
• If the price goes below Rs 96 and stays below for some days, it could be difficult for the price to return up again for some more time.  
• Don't buy unless the price bounces back from Rs 96, and buy if it bounces off Rs. 96 and starts rising again.

Technical Indicators:

• Fibonacci 78.6% and a 1-year old support line merge at Rs. 96, making it a very important support line for the price which has otherwise been falling since late September.  Once the price regains its uprise after reaching Rs 96, its a good time to buy the stock.  
• If the price falls below Rs 96, the next support can only be found at Rs. 82 price levels. 
• A shoulder and a head have formed at Rs 110 and Rs. 113.  Is there a head and shoulders in the making?  If the price falls to 96, rises back to 110 and falls back again and goes below 96, jump out of the Dabur ship for the time being, or go short to make money.

News:

• Dabur completed a buyout of  Turkey`s Hobi Kozmetik Group last month, and will use this platform for a global launch into Turkey and surrounding European and Middle Eastern Countries. 
• The earnings have increased 10% over the same quarter in last year, which is modest and not attractive considering inflation and increase in consumer demand.  International acquisitions might add flavor to the company in the long run but for now there is no glamor in its quarterly results.

DABUR INDIA Weekly NSE Stock Chart Technical Analysis:

Reliance Ind Weekly: 1-5 Nov '10: Will Price cross Rs 1119?

RELIANCE INDUSTRIES Weekly NSE Stock Chart Technical Analysis:

This week ended on a sour note for Reliance Industries.  The week opened at Rs 1121 and fell to Rs 1062.65 but rallied back slightly to close at Rs 1105.70.

Market Outlook:  Rs 1119 is going to be an important decision making point for the price.  If price remains above this after 3rd week of November, its time to buy.  

Technical Indicators:

• The week ended with a Hanging Man Candlestick.  

• The price has also reached its point of 2 year old resistance trend line.

• 2 important lines of resistance and support dissect in the next couple of weeks at Rs 1119.  This is an important point to watch, keep a keen eye on it.  Any breakouts above this price are to be taken happily.

RELIANCE INDUSTRIES Weekly NSE Stock Chart Technical Analysis

Kinetic Motors Weekly: 1-5 Nov'10: Strong Support @ Rs 37.50

KINETIC MOTORS Weekly NSE Stock Chart Technical Analysis:

This week closed at Rs 38.65 on 5th Nov 2010 (This chart is updated only till 4th Nov).

The week opened at 38, went up to 41.4 but finally dropped to close at 38.65.  So overall it was a bearish week after an initial rally.

Market Outlook: The steep fall in price will slow down next week, and the week wont witness a fall as big as the last 4 weeks.

Watch out for Rs 37.  If the price remains below this level for 2-3 days, it might be another good opportunity to go short.  A price above 44 is a good time to get back into this stock.

Technical Indicators:

This week ended with an inverted hammer candlestick formation which suggests slowing down of the price fall.  Next week might even end higher than this week, though only by a small margin.

There is strong Fibonacci support at the CMP.  It has the simultaneous support of both 61.8% Retracement and 61.8% Arc as is visible on the chart.  This makes it a very important level which can make or break the coming weeks.

News:

The falling price might get help from the soon to be launched scooters.  This will give some hope to the investors to show support to Kinetic Motors.

The sales for the quarter is also up as compared to the past quarters, and the liabilities of the company have also reduced significantly over the last year.

All this news means that there could be good times ahead.  The stock may soon give buy signals and we'll be ready for it.

KINETIC MOTORS Weekly NSE Stock Chart Technical Analysis

3i Infotech Weekly: 1-5 Nov 10: Tough times for 3i

3i INFOTECH Weekly NSE Stock Chart Technical Analysis:

This week closed at Rs 67.05.  The chart above is showing data updated until 4th Nov only.  The candlestick pattern for the week is a shooting star

Market Outlook: The price should fall in the next week after two indecisive week.  Don't buy this stock as of now. Sell if it closes below 61 with no indicators showing that it'll return.

Technical Indicators:

• This week ended with a shooting star candlestick.  It's not exactly a shooting star but that is the closest way to describe it.

• There are lines of resistance and support which merge by end of December 2010, around Rs. 65-67.  

• By Dec end we should have a clear picture emerging of which way the stock is headed.  

News:

• A looming rumor of being acquired by Satyam Mahindra is a beam of hope for this stock.  If this news comes, jump in and buy immediately for a short term gain.

3i INFOTECH Weekly NSE Stock Chart Technical Analysis: