KS Oils: Correcting after a fall

K.S. OILS Daily BSE Stock Chart Technical Analysis:

KS oils has fallen quite sharply in 2010 and is right now near its lowest price range in the last 3 years. 

Close & CMP: 32.40 

• Currently the price is traveling within a price channel as is visible on the chart.
• Rs30 is the important support level for this stock price.  If it falls below 30, we can only wait for it to return.
• At this point though, falling below 30 is unlikely.  The price can be expected to hit 30-31 and then rise back to 33-34 making small swings.  After that, it is important what happens. If the price rises above the price channel's upper trendline, there might be a breakout with high volume and this can be traded with a long position.
• The current price channel is a decreasing triangle double zigzag A-B-C Elliott Wave correction unfolding.  This means that we should wait before taking long-term positions on this stock and wait for an impulse wave (trend) to emerge. 
• However, you can still trade any breakouts above the price channel as discussed above as this may be a good short term opportunity.  Keep your stoploss tight if and when you make this trade.
• KS Oils के शेयर का भाव त्रिकोण आकर में चल रहा है, जैसा की आप चार्ट पर देख सकते हैं.  ३० पर इसका पक्का सुप्पोर्ट है.  ३० के नीचे गिरा तो फिर राह देखनी पड़ेगी की वापिस लौटे.  और अगर यह भाव के त्रिकोण से ऊपर निकल गया आचे वोल्यूम के साथ, तो फिर इसे खरीदा जा सकता है लेकिन स्टॉप लोस को कास के रखें क्यूंकि इसका अभी भी कोई भरोसा नहीं है, अभी तक कोई ट्रेंड नहीं दिख रहा है.   

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K.S. OILS Daily BSE Stock Chart Technical Analysis

(analyzed for Prashant, Rajkot)

Reliance Communications: Falling Again ?

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:


Close & CMP: 107.65

• Reliance Communications faced resistance near the Ichimoku Cloud at 108 as expected, and is now falling back and has broken its support trendline.  The momentum has also peaked and the volume has fallen.
• No long positions should be entered at this point.  Only enter short term positions with small time window of liquidating the position.
• Think of buying only if it rises above 118.
• Reliance Communications अब गिर रहा है और सुप्पोर्ट ट्रेंड लाइन के नीचे भी गिर गया है.  अभी इसे खरीदा नहीं जा सकता है, सिर्फ शोर्ट पोसिशन लें.  अगर ११८ के ऊपर जाता है तो ही खरीदने के बारे में सोचें.  

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RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Tata Steel: Struggling to return

TATA STEEL Daily NSE Stock Chart Technical Analysis:

Tata Steel Close & CMP: 613

• Tata Steel has a long term diagonal support line as visible on the chart.  This line crossed the diagonal resistance last week at the 638 price level.

• As is visible on the chart, the price fell below and remained below the diagonal line of support.  This is a negative signal.  As the diagonal line of support is moving upwards, it is obvious that the more time Tata Steel remains lower, this line of support will seem farther and farther.  

• Moreover, the diagonal line of resistance will now start pushing this stock's price lower.

• The only good luck charm is the support line at 578.  As long a this line withholds, one may feel safe.  However, if 578 is taken out, it's going to be dangerous for Tata Steel.

• A fall below 578 may be traded with a short position.

• For Elliott Wave Traders:  2 sets of A-B-C corrections seem to have occurred.  We are now looking at either the Wave 1 of the next bull trend, or Wave X for the next set of corrections.  If 578 is taken out, then we can conclude that we are in the next set of corrections and headed down for another Wave C.

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TATA STEEL Daily NSE Stock Chart Technical Analysis

Jubilant Foods: Trend Triangle

JUBILANT FOODS Daily NSE Stock Chart Technical Analysis:

Jubilant Foods is in a trend triangle and most probably a breakout will occur on 27th, Monday.

Close & CMP: 548

• Upper breakout is 551 for going long and lower breakout is 540 for going short.  Trade only in direction of overall NIFTY trend.
• The momentum is wavy and so the direction of this stock cannot be trusted yet, so avoid taking long term positions.
  
• Jubilant Foods ट्रेंड त्रिकोण में है.  शोर्ट टर्म ही ट्रेड करें, अभी कोई लम्बे समय तक चलने वाला ट्रेंड नज़र नहीं आ रहा है. 

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JUBILANT FOODS Daily NSE Stock Chart Technical Analysis

IVRCL Infra: Trend Triangle

IVRCL INFRA NSE Stock Chart Technical Analysis:

• IVRCL Infra is traveling within a trend triangle since mid-Feb, as is visible on the chart.  
• Current Close & CMP: 74.15
  
• The price has hit the upper line of the trend triangle today and stopped exactly there.  By the end of month the stock price will make a decision whether it is headed upwards or downards.
• The price has taken support of the 20 DMA
• The current formation is a set of corrective A-B-C Elliott waves and there is a possibility that the price might rise to 84 if it breaks out from above the trend triangle.  Get ready to trade this short-term gain if the opportunity arises. 
• No indication for taking a long-term position on IVRCL yet, trade it only for short-term gains.
  
• IVRCL Infra फरवरी से ट्रेंड त्रिकोण में चल रहा है.  अगर ऊपर की तरफ जाता है तो ८४ तक जा सकता है.  अभी लम्बे समय के लिए इस पर पोसिशन लेने का कोई संकेत नहीं है, तो शोर्ट टर्म के लिए ही त्रदे करें.

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IVRCL INFRA NSE Stock Chart Technical Analysis

Reliance Communcations: Price Channel & Possible Resistance

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

• Reliance Communications has risen in a price channel throughout March.
• Current Close & CMP: 104.75
  
• The price channel leads directly into the Ichimoku cloud, and the circle is the expected point of resistance for reliance communications.  Buy only around 118-120, if and when the blue cloud is crossed.
  
• Reliance Communications पूरे मार्च एक प्राइस चैनल में  रहा है जैसा की चार्ट पर दिख रहा है.  जहाँ गोला बनाया है वहां पर रेसिस्टांस मिलने की संभावना है.  तभी खरीदें जब ब्लू बदल को पार कर जाये, करीब ११८ के आस पास. 

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RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Could Tata Coffee Be Ready For Correction?

TATA COFFEE BSE Weekly Stock Chart Technical Analysis:

Tata Coffee had a wild week with a mega rise in just 4 days.  After this huge 4 day bull run, is this stock ready to make a correction?
I have drawn the possible levels of correction and support if the price starts falling again.  

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TATA COFFEE BSE Weekly Stock Chart Technical Analysis

Shree Renuka Sugars: Holding Support @70

SHREE RENUKA SUGARS Weekly NSE Stock Chart Technical Analysis:


Shree Renuka Sugars closed the week at 71.5.

• We can see that after a few weeks of fall, the bottom of the price has stabilized near 70 since the last 3 weeks.  This level is also very close to its long term support line as seen on the chart. This week ended with a Doji formation.  There is a good chance that this support level will hold and SRS will start rising again.
• However, if NIFTY remains low, this stock too will be affected and break its support.  If support breaks, the lower targets are 63, 52 and 35.
• If NIFTY performs well and SRS rises, the upper targets are 105 and 127.
• Seeing this, the next week or two will be crucial to see which way this stock is headed.  As of now, wait and watch before taking new positions
  
• Shree Renuka Sugars कुछ हफ्तों से गिरने के बाद ७० पर आके टिक गया है और इस से नीचे नहीं गिर रहा है.  सुप्पोर्ट लाइन भी ७० के नज़दीक ही है.  अगर निफ्टी ऊपर रही तो यह शेयर १०५ और १२७ के टार्गेट रखता है.  पर अगर निफ्टी गिरी तो ६३, ५२ और ३५ तक भी जा सकता है.  अगले हफ्ते इसका रुख देखकर फिर ही पोसिशन लें. 

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SHREE RENUKA SUGARS Weekly NSE Stock Chart Technical Analysis
(analyzed for Somnath, Kolkata)

Tata Coffee: Soars Today But Looks Susceptible



TATA COFFEE Daily NSE Stock Chart Technical Analysis:

Tata Coffee had a big rise today, probably was the biggest gainer on the NSE.  It rose from 579 to a Close of 671 on a single day.

• Though this sounds exciting, it is noticable on the chart that price had risen in exactly the same way on 19th January, about 1.5 months ago.  A repetition of the rise in the same exact price range makes me wonder, as it is quite unlikely that an exactly same price rise will repeat. 
• You can also notice that while on 19th Jan 8 Million Tata Coffee were traded, only 4.12 Million were traded today, even then price rose exactly similar. 
• This seems like operator activity rather than real market rise due to investor interest. 
• Moreover, the price has repeated made two tower top formations in succession, and this might be a 3rd one.
• Only if it remains above 765, can this be considered as rising further. 
• So I would wait before running into this rise.  Better safe than sorry.
• Tata Coffee आज ज़ोरदार उछला लेकिन ऐसा ही उछाल १९ जनवरी को आया था, जैसा की आप चार्ट पे देख सकते हैं.  यह थोडा अजीब है, की उसी जगह पर वैसा ही उछाल आया है.  और जबकि १९ जनवरी को ८० लाख शेयर का सौदा हुआ था, आज सिर्फ ४१ लाख शेयर का ही सौदा हुआ है.  जब तक यह शेयर ७६५ के ऊपर जाके वहां पर नहीं टिकता है, में इसे खरीदने से रुकुंगा. 

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TATA COFFEE Daily NSE Stock Chart Technical Analysis

NIFTY: Rises But Still Not Convincing

NIFTY Daily Stock Chart Technical Analysis:

• NIFTY tried to rise back today and closed at 5520. 
• However, this rise is not looking very convincing as a tasuki gap has formed and momentum and volume have also slowed down.
• Wednesday might come with an opportunity to go short.  Wait for market open and see the direction where its headed before taking a decision.   If it goes upwards, wait before taking short positions.
• NIFTY आज थोड़ी ऊपर गयी है लेकिन अभी भी लगता है की गिर सकती है.  कल शोर्ट करने का मौका हो सकता है, ध्यान रखना. 

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NIFTY Daily Stock Chart Technical Analysis



Kinetic Motor: Finds Support @ 22, Could Rise

KINETIC MOTOR Daily NSE Stock Chart Technical Analysis:

• Kinetic Motor seems to have found bottom at 22.  The 13 EMA has also flattened out and the momentum has sustained during this sideways movement.
• Could be an opportunity to purchase if the price rises above 23.50.

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KINETIC MOTOR Daily NSE Stock Chart Technical Analysis

Power Grid: Remains Stuck In Price Channel

POWER GRID Daily BSE Stock Chart Technical Analysis:

• Power Grid continues to remain in its price channel and is under its resistance @ 100.  
• It has support in the 94-95 level.
• Since a few days it is trying to break above 100 but has failed to do so.  
• Refrain from buying unless it goes and stays above 100.
• Power Grid काफी समय से १०० से ऊपर नहीं जा पा रहा है. जब तक १०० के ऊपर न जाये तब तक इसे खरीदने से रुकें.

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POWER GRID Daily BSE Stock Chart Technical Analysis

Spice Jet: Possible Buy Above 44

 

SPICE JET Daily BSE Stock Chart Technical Analysis:

• Spice Jet made a rise and seems headed upwards, after staying sideways for the past couple of days.
• The resistance is at 44, so there is a possible buy above it.
• Considering the involvement of management in a probe, don't remain bullish for too long on this one as any negative news can rip off the price once again.

SPICE JET Daily BSE Stock Chart Technical Analysis

Tata Steel: Trend Triangle and Price Channel

TATA STEEL Daily NSE Stock Chart Technical Analysis:


Tata Steel rose with the overall market today but the rise was half-hearted, there were less number of investors who were interested in this rise.

• Today's rise is unconvincing and I would not take positions in Tata Steel tomorrow morning, and wait for a trend to emerge.  
• Today a marabozu candle is formed but due to lack of overall trading interest in this rise, it doesn't seem sustainable.
• The stock price is traveling within its price channel of 578-701 since 6 months, so a break out in either direction can be enthusiastically traded.
• There is an important trend triangle and the price has attempted to return within it.  This triangle completes at 638, let's see how the stock behaves when it reaches this price point.
  
• Tata Steel आज ऊपर गया लेकिन वोल्यूम कम है इस लिए लगता नहीं है की लम्बे तक जायेगा.  वैसे भी त्रिकोण पड़ रहा है और भाव इसके इर्द गिर्द ही घूम रहा है.  अभी इस में पोसिशन नहीं लेनी चहिये जब तक कोई ट्रेंड सामने नहीं आता है.  अगर ५७८ से नीचे गिरे या ७०१ के ऊपर जाये, तो यह ब्रेक आउट ट्रेड किया जा सकता है.  

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TATA STEEL Daily NSE Stock Chart Technical Analysis

Bajaj Holdings & Investments: Rises to touch resistance

BAJAJ HOLDINGS & INV Daily NSE Stock Chart Technical Analysis:

Bajaj Holdings is showing improvement.  Today it ran into a diagonal resistance and also has entered the Ichimoku cloud zone. So, this is a double resistance point for Bajaj Holdings.

If it breaks above the diagonal resistance, it can be traded but the stoploss has to remain tight until it is able to cross the cloud and is above 825.


BAJAJ HOLDINGS & INV Daily NSE Stock Chart Technical Analysis

Indian Hotel: Price Channel

INDIAN HOTEL Daily BSE Stock Chart Technical Analysis:


Indian Hotel is moving between 77 and 85 since a couple of weeks.  Though the volume is quite low, there might be an opportunity to take a short-term rise up to 84-85 if market overall remains up for a couple of more days.

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INDIAN HOTEL Daily BSE Stock Chart Technical Analysis

NIFTY Post-Budget Day

NIFTY Daily Chart Technical Analysis:

NIFTY had a soaring day.  It defied what the indicators were saying yesterday, but I would still not consider that the market is out of the woods.

It stopped at its diagonal resistance today after a lower volume high jump.  Emotions are flying in the air after the budget, so the market is showing volatility.  By the end of this week the emotions should settle down and NIFTY should show a definite direction.

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NIFTY Daily Chart Technical Analysis