Kinetic Motors Weekly: 8-12 Nov '10: Resistance @ 43

KINETIC MOTORS Weekly NSE Stock Chart Technical Analysis:

The week ended with a fall.

It opened on 8th at 40.05 and closed on Friday with CMP 38.2.  In the meanwhile it managed to make an intra week high of 43.25.

Market Outlook:

• As expected in last week's post, the price enjoyed the support of Rs. 37.5 and closed above it.
• This week the price could fall further.  If it does, it should close between 35 and 37.5.
• If the price rises, which seems unlikely, it will again face resistance at Rs. 44.

Technical Indicators:

• Fibonacci 61.8% support of retracements as well as arc at Rs. 37.50.
• Candlestick shows that the week began with buying but ended with selling.  The selling could continue next week, and price could fall further.   

KINETIC MOTORS Weekly 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)

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