Lakshmi Energy and Foods: Stuck in a price range

LAKSHMI ENERGY & FOODS Daily NSE Stock Chart Technical Analysis:

The price closed at 70.55 and lost the rally it made in the initial part of the day.

Market Outlook:

• The price is facing stiff resistance at 73.  It is looking difficult that the price will break this level.  
• Go long (buy) on a close above 73.
• The price has support at 69.  
• 69-73 is a short range and so we should be able to see a breakout soon.

Technical Indicators:

• The price made a tombstone doji - type candlestick today.
• The intraday high of this candlestick tested the resistance and then just fell back powerless.
• The trading quantity of the stock has fallen back to below average.
• The price is trading in a small range of 69-73.
• No trading signal today, wait before taking a position on Lakshmi E&F.

LAKSHMI ENERGY & FOODS Daily NSE Stock Chart Technical Analysis

Laxmi Energy & Food: Sideways since 5 days, Big move before weekend

LAXMI ENERGY & FOOD Daily NSE Stock Chart Technical Analysis:

Laxmi Energy & Food remained sideways for the 5th continuous day and closed near yesterday's open after opening near yesterday's close.

Open:  79.50  Close & CMP:  77.40

Market Outlook:

• The price will make a sudden move in either direction, keep your antennae tuned for opportunity to make money on this stock.
• In the short term, buy at 83 and sell at 90.

Technical Indicators:

• Thu or Fri could see a big move happening (hopefully upwards).  Keep an eye for the move to happen, and make a buy or sell when it happens.
• The monthly chart (the chart above is the daily chart) suggests that this month could end around Rs 72 or at 80.  Next month, this stock should start rising again. December could be a good positive month for Laxmi Energy and Food.

LAXMI ENERGY & FOOD Daily NSE Stock Chart Technical Analysis