Reliance Communications: Important Triangle Tomorrow

RELIANCE COMM Daily NSE Stock Chart Technical Analysis:

Reliance Communications made a slight movement today, but nothing worth noticing.

Close & CMP: 95.05

Market Outlook:

• Buy if it closes above 96 or crosses 96 intraday with good volume on 23 Feb.  
• The level at 91 is serving as support.  

Technical Indicators:

• An inverted hammer-like formation occurred today.  Tomorrow the triangle gets completed so the stock should make some interesting movement.
• There is a sideways movement after a big fall (triggered by the probe news on ADAG).  
• There is also a steep diagonal resistance.  Breaking this resistance with good volume might trigger this stock price upwards and make it buy-worthy.  
• Going below 90 is further bad luck for RComm investors. 
• The way this stock has sustained the level at 90, let's hope for good news.

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RELIANCE COMM Daily NSE Stock Chart Technical Analysis

Jubilant Foods Support @ Rs 565-570

JUBILANT FOODS Daily NSE Stock Chart Technical Analysis

Jubilant Foods CMP at 600.2 after a intraday high of 621.7.

Market Outlook:

• The price is falling further.  There is support near 565-570 levels.

Technical Indicators:

• The day ended with an inverted hammer candlestick.
• The other indicators are showing a possible downward journey.
• Seems like the price is making a correction after a sudded rise following good Q2 result announcement last week.  
• The previous resistance was near 565, this should now act as support when the price falls until there.
• If the price does not go below 595, there is an opportunity to buy.

JUBILANT FOODS Daily NSE Stock Chart Technical Analysis

Seamec Post Poor Results: Still stuck between Rs 165 and Rs 139

SEAMEC Daily NSE Stock Chart Technical Analysis

Seamec opened higher than yesterday at 164.1 and went to a high of 169, but eventually fell and CMP is 161.9.

Market Outlook:

• The price seems all set to fall.
• The support for these falling prices will be near Rs. 157 and then at Rs. 139.  This time I feel it won't stop even at 139 and fall to 125 levels by mid-Dec.
• There could be an opportunity to go short as the price starts falling tomorrow.

Technical Indicators:  

• Bearish Inverted Hammer Candlestick today.
• Strong resistance at 165.
• Price tasted 169 but could not sustain and closed below the 165 resistance.
• Price fall expected in the coming days.
• There is a long term line of support as visible on the chart.  If the price falls below 139, this line will provide support around 125 levels.

News & Fundamentals:

• Q2 has reported a loss again.
• The stock is trading at a P/E of only 9.27 so it shouldn't fall too much.  If the company shows any sign of turnaround, the market will jump on this stock and the prices will soar.  Keep an eye on any positive announcements or declarations by Seamec (if any happen, that is). 

SEAMEC Daily NSE Stock Chart Technical Analysis

Kinetic Motors Weekly: 1-5 Nov'10: Strong Support @ Rs 37.50

KINETIC MOTORS Weekly NSE Stock Chart Technical Analysis:

This week closed at Rs 38.65 on 5th Nov 2010 (This chart is updated only till 4th Nov).

The week opened at 38, went up to 41.4 but finally dropped to close at 38.65.  So overall it was a bearish week after an initial rally.

Market Outlook: The steep fall in price will slow down next week, and the week wont witness a fall as big as the last 4 weeks.

Watch out for Rs 37.  If the price remains below this level for 2-3 days, it might be another good opportunity to go short.  A price above 44 is a good time to get back into this stock.

Technical Indicators:

This week ended with an inverted hammer candlestick formation which suggests slowing down of the price fall.  Next week might even end higher than this week, though only by a small margin.

There is strong Fibonacci support at the CMP.  It has the simultaneous support of both 61.8% Retracement and 61.8% Arc as is visible on the chart.  This makes it a very important level which can make or break the coming weeks.

News:

The falling price might get help from the soon to be launched scooters.  This will give some hope to the investors to show support to Kinetic Motors.

The sales for the quarter is also up as compared to the past quarters, and the liabilities of the company have also reduced significantly over the last year.

All this news means that there could be good times ahead.  The stock may soon give buy signals and we'll be ready for it.

KINETIC MOTORS Weekly NSE Stock Chart Technical Analysis

Ingersoll Rand could fall soon

Ingersoll Rand is not looking good.  The sideways market shows up dojis and inverted hammers.  These are signs that the bears are trying to progressively gain control.  The stock might show a weak rise tomorrow but could go into a fall afterwards. 

Additionally, the market made divergence a few days back, also signaling an oncoming fall in price levels.

The support levels formed by Fibonacci retracements if the stock goes down are 472.09, 461.3, and 450.31.

If the stock indeed goes down soon as is seeming apparent, its a good time to take a short position around 475 levels with full/partial target around 430.  The exit from this position could be around 512-515 levels.