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

BF Utilities: Sideways Movement

BF UTILITIES Daily NSE Stock Chart Technical Analysis:

BF Utilities fell again today, after hitting the short-term resistance at 900.

Close & CMP: 841.35

Market Outlook:

• Yesterday, the price had risen as an important court verdict cleared the way for a new project, but seems like today the market still chose to not respond positively.
• The stock price fell today after hitting 900, so 900 has emerged as a strong resistance for the time being.
• Can be viewed positively only if it breaks both 900 and 957.
• BF Utilities ९०० को छू कर गिर गया, जबकि कल इस कंपनी को फायदेकारक कोर्ट फैसला मिला था.  

Technical Indicators:

• The price is in a range of 957-686 since a long time, with some exceptions.
• A bearish counterattack candlestick formed today.
• There was a sudden surge in interest, but in making this stock price fall.
• The operators are playing this one heavily, expect further volatility in BF Util, could be a good one for day traders to make short term trades.

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BF UTILITIES Daily NSE Stock Chart Technical Analysis

BF Utilities: Beware of this sudden rise

BF UTILITIES Daily NSE Stock Chart Technical Analysis:

BF Utilities jumped up for the 2nd successive day and was heavily traded on the stock exchange

Open:  873      Intraday High:  988     Close / CMP: 906

Market Outlook:

• The price closed well above yesterday
• But I'm skeptical that this rally will last.
• Don't buy BF Utilities yet, don't rush, wait.
• The price still needs to break resistance to prove that it is indeed going upwards.

Technical Indicators:

• This jump in price has been due to announcement by the company to get new capital worth Rs. 5 billion via FDI.  
• A shooting star candlestick has formed today.  
• Though the stock was heavily traded, there was more selling than buying.
• There is long term resistance line passing through at 1010, and the price has still to break through that one.
• All indicators are pointing at the fact that there is a chance that this price jump might not sustain.  We'll wait and watch before making a move on BF Utilities.

All previous posts about BF Utilities

BF UTILITIES Daily NSE Stock Chart Technical Analysis

BF Utilities to show a definite trend by weekend

BF UTILITIES Daily NSE Stock Chart Technical Analysis:

The price marginally went up today.  It opened at Rs 945 and CMP was Rs 954.35.

Market Outlook: 

• The price is expected to marginally rise again tomorrow and close above Rs 957.
• There is a point of decision by end of this week.  What happens the day after the support line and the arc cross each other will help us take future stand in the market.
• Looking at the historical price of this stock, it has the tendency to suddenly rise or fall.  Hence if I personally would want to not buy and hold but be an opportunist with this stock, buying when I expect the market to rise and selling when it starts falling, or when I make 10-20% which is decent return in the short term.

Technical Indicators:

• The price took Fibonacci Arc support at Rs. 886 and rose back after 1 Nov 2010.  There is a line of support there at Rs. 900.
• Price is sideways since the last 5 days.
• It is very close to the Fibonacci Arc as well is at the Fibonacci Retracement intersection at Rs. 957 around Nov 15.  This is an important decision point to watch to know which line will be used as further support - the Fibonacci line at Rs. 957 or the Fibonacci Arc.  
• If price rises along the arc it will find resistance at Rs. 1029. 
• There is a long term line of resistance, if the price crosses this line with good volume there might be good opportunity to buy. 
• Below Rs. 885, I would short this stock

BF UTILITIES Daily NSE Stock Chart Technical Analysis


(Analyzed for M Mohan, Kolkata)