BF Utilities: Bouncing Upward From Support Line

BF UTILITIES Daily NSE Stock Chart Technical Analysis:

BF Utilities showed recovery after touching its support line at 686 and another diagonal support line.

Close & CMP: 714

Market Outlook:

• 686 is the long-term support for BF Utilities, and the price has managed to remain above 686.
• Good opportunity to buy with stoploss below 646.  And a possible sell around 850-900. (If NIFTY underperforms, then sell sooner!)
• If the price falls and remains below 686 for a few sessions, it'll be a good opportunity to short.
• BF Utilities अपनी सुप्पोर्ट लाइन को छूकर वापिस ऊपर की ओर चल दिया है.  ६८६ इस शेयर का पुराना सुप्पोर्ट है.  अगर निफ्टी सही रहा तो बी ऍफ़ यूटीलीटीज़ को खरीदा जा सकता है, और ८५०-९०० के आस पास बेचा जा सकता है. पर अगर निफ्टी नीचे की तरफ घूम गयी तो जल्दी बेच देना चहिये.  और अगर ६८६ के नीचे गिरता है तो शोर्ट फ्यूचर में इन्वेस्ट किया जा सकता है.

Technical Indicators:

• The price has moved within a channel of 686-957 since a long time and the price bounced upwards after hitting its support at 686.  The trading volume is good and the momentum is also showing upwards.

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BF UTILITIES Daily NSE Stock Chart Technical Analysis

Spice Jet: Showing Support at 44

SPICE JET Daily NSE Stock Chart Technical Analysis:

Spice Jet investors finally found some relief as the stock price seemed to hit bottom and started moving upwards.

Close & CMP: 46.4

Market Outlook:

• The price seems to be rising after a steep fall.  The recent fall was due to the allegation of Maran's involvement in a scam (not related to the airline industry though).
• The worst seems to be over for SpiceJet's stock, but nothing can be said yet.  I would still wait for allegations to subside to take any long term view.  
• Current support is (short below) 44 and resistance is (buy above) 49.50 with a short term exit.
• Day trader: Can be bought around 46-47.  Sell when it reaches 49.50 (if the price is moving upwards fast and goes above 49.50, you might hold on longer)

Technical Indicators: 

The price was falling consistently and formed a doji candlestick at its support @ 44 and then returned upwards with good level of market interest in the stock and strong liquidation of shorts by the bears.  Overall a recovery sign, but not whether this recovery will be long-lived.

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SPICE JET Daily NSE Stock Chart Technical Analysis