Opto Circuits Weekly: 1-5 Nov 10: London Bridge is falling down, falling down

OPTO CIRCUITS Weekly NSE Stock Chart Technical Analysis:

Opto Circuits closed this week positively.  It opened at Rs 290 and closed at Rs. 302.75.

Market Outlook:  

• The price will fall back next week.
• Hopefully, it will stop at or above Rs. 284.
• Don't buy this stock right now, the price is going to fall further.  

Technical Indicators:

• Price is getting Fibonacci Fan 23.6% support, which will be around Rs. 284 for the month of November.
• Downside Gap Three Candlestick pattern has formed, confirming continued bearish trend next week.
• If price falls below Rs. 284, the next point of support will be at Rs. 265 which is the Fibonacci retracements support point.

OPTO CIRCUITS Weekly NSE Stock Chart Technical Analysis:

Indraprastha Medical Weekly: 1-5 Nov 10: Not Looking Good

INDRAPRASTHA MEDICAL Weekly NSE Stock Chart Technical Analysis:

Indraprastha Medical closed lower this week at 44.50 after opening the week at 45.70.

Market Outlook:  

• The market should go sideways next week. 
• Don't buy immediately, no signals yet.
• Good buy if it jumps Rs 55. 
• Exit / go short if it goes below Rs 43.

Technical Indicators:

• A trend triangle has formed.  The angles of which are at 47.50, we can see that the stock faced resistance at this point and dropped below.  
• The next decision making point is depicted by the blue dot on the chart.
• If the stock falls and remains below Rs. 43,.its a good opportunity to short.
• A double top has formed at Rs. 54.  If stock climbs above 55, its a good opportunity to go long. 

News (Fundamentals):

• Bad results with lower sales than last year and lower profits and lower earning per share show this is not a good time to enter this stock.  

INDRAPRASTHA MEDICAL Weekly NSE Stock Chart Technical Analysis

Apollo Hospitals Weekly: 1-5 Nov 10: Strong Support @ Rs 510

APOLLO HOSPITALS Weekly NSE Stock Chart Technical Analysis:

Apollo Hospitals ended this week with a fall, but most of the market has not shown interest in the falling of this stock.  The bullish sentiment around Apollo Hospitals is high even though the price seems to have fallen.

The CMP of Apollo Hospitals on 5 Nov 2010 is Rs. 521.20.

Market Outlook:  

• The price will reverse from this point and the next week will close higher than it opens on Monday.  
• There is very strong support at Rs 510. 
• If you plan to buy Apollo Hospitals, this is a good time to get in as the price is not expected to fall below Rs 510.  In case the price does go below Rs 510 during any trading session, buy immediately.

Technical Indicators:

• The price is strongly supported at Rs 510 and ideally will bounce back upwards from this level onwards.
• The Fibonacci  78.6% and Fibonacci Fan 23.6% crossover at Rs. 510 and we can see that the stock price is staying above this level since 4 weeks.
• The Fibonacci Fan 23.6% line is expected to act as the line of support for the next rise in the stock price.

News (Fundamentals):

• Turnover and profits are increasing consistently.  
• Apollo Hospital is also planning to venture in Tier II and Tier III cities and 1500 beds and 350 pharmacies in the next two years.  
• There is also the 12% stake of Malaysia based Khazanah Hospitals, major stakeholders in Asia's most profitable hospital chain.  
• The medical tourism business is also growing and Apollo is expected to be a major beneficiary due to its brand value.
• The only downside is the high fixed costs of running a hospital.  If the management goes lax on cost management it might lead to loss of profit and affect the company financially. 

APOLLO HOSPITALS Weekly NSE Stock Chart Technical Analysis