Kinetic Motor: Finds Support @ 22, Could Rise

KINETIC MOTOR Daily NSE Stock Chart Technical Analysis:

• Kinetic Motor seems to have found bottom at 22.  The 13 EMA has also flattened out and the momentum has sustained during this sideways movement.
• Could be an opportunity to purchase if the price rises above 23.50.

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KINETIC MOTOR Daily NSE Stock Chart Technical Analysis

Kinetic Motors: Finally, Support @26.50

KINETIC MOTORS Daily NSE Stock Chart Technical Analysis:

Kinetic Motors remained unmoved on a day even when the stock market fell sharply.

Close & CMP: 27.65

Market Outlook:

• The price has the potential to rise again from the level of 26.50.
• Can be purchased as it rises above 28.50.

Technical Indicators:

• The price formed a Doji Candlestick at its support level of 26.50.
• This support seems strong and should be able to hold fort.
• The price didn't fall even though the market crashed, indicating further strength at this support level.
• The momentum is also low and should start rising very soon.
• In nutshell, seems like a good time to look at Kinetic Motors as a buy.

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KINETIC MOTORS Daily NSE Stock Chart Technical Analysis

Kinetic Motors: Bouncing Downhill

KINETIC MOTORS Daily NSE Stock Chart Technical Analysis:

Kinetic Motors is bouncing downhill on support slope.  Its technically a support line but its more like a slope :)

Market Outlook:

• Indecisive.  If it breaks above 33, there is hope.

Technical Indicators:

• There is a downward sloping support line on which the price is bouncing downards.
• The next time price reaches the support line, it will be around Rs. 25.  This is also close to its previous consolidation levels.  So there might be some support at this price level and the price could actually start going upwards again.

KINETIC MOTORS Daily NSE Stock Chart Technical Analysis


Earlier posts on Kinetic Motors

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

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

Kinetic Motors - New Line of Support

KINETIC MOTORS Daily NSE Stock Chart Technical Analysis:

Kinetic Motors has found a new line of support - the same diagonal which was acting as a line of resistance.

The price closed today at Rs 38.2 after opening at 40.8 and both open and close stayed close to yesterday's levels.

Market Outlook: The price on Thu should remain between Rs 36 and Rs 42.

Technical Indicators:

• The 20 day moving average has gone above the price and stayed there since 5 days, which is a slowdown sign.

• The interest in the stock has also slowed down at this price level.  A sudden push in either direction may happen soon.  

Kinetic Motors Trend Triangle

Kinetic Motors Daily NSE Stock Chart Technical Analysis:


Kinetic Motors rose today back today after a week of falling, to form a piercing candlestick pattern.


The price opened at 38 and closed at 39.55.  During the day, there was some selling pressure as the price dipped to 36.8, but it quickly moved back during the 2nd half of the day and closed positive.


Market Outlook: Price should continue to rise tomorrow


Technical Indicators:

• Trend Triangle: The market remained within the triangle and if it rises tomorrow, it'll break out of the diagonal resistance
• Piercing Candlestick pattern with good volume: Positive signal
• RSI turning upwards from midpoint: Good signal
• Closing above 20 day moving average after closing below it on Friday: Positive signal
• Fibonacci support at 50% (Rs 37.77) retracement levels, tomorrow's support could be 61.8% (Rs. 40).

Kinetic Motors Weekly: 25-29 Oct'10: Marabozu Candlestick

Kinetic Motors Weekly Stock Chart Technical Analysis:

Kinetic Motors ended the week with a marabozu candlestick.  This shows continued selling throughout the week, and heavy profit booking by the traders and investors.

The week opened at 45 and closed at 37.65, hence losing almost 18% value in just 5 trading days.  The weekly high and low were 45.25 and 37.6.  This is very close to the opening and closing price, telling us that the all through the week, profit booking has been the only thing on everyone's mind.

Outlook for next week: The stock price will fall further.  As this week has had very low volume compared to the past 3 weeks, it can be estimated that the price will not fall at the same speed as this week.  The price is expected to find support between 33 and 37 and close the next week accordingly.


Technical Indicators: 


The price is falling from the oversold levels and into the middle zone.  This depicts continued selling and profit booking in the next week, driving prices downwards.


The volume has lowered significantly.  Hence the speed of fall should get curtailed in the next week.


The Fibonacci level of 50% (36.6) and 38.2% (33.34) should act as the support points for this week. If the price falls further below these points (which is not expected), it most probably won't go below  29.31.

Kinetic Motors Sideways

My earlier post on Kinetic Motors on Oct 22nd 2010 speculated on a possibility of price rise based on confirmation.  But the confirmation never came and the market developed a sideway trend.  

Three moving averages have diverged to a large extent, and volume has also slowed down.  The market should remain sideways tomorrow as well.

An yearly view on the chart shows how divergent the moving averages have become, denoting mixed emotions about this stock amongst investors and continuation of choppy sideways market with some more black / neutral candles for the time being.  

Kinetic Motors Could Rise Again

Kinetic Motors stock on NSE is all set to rise again after a small correction. 

We can see a Bullish Dark Cloud Cover Candlestick on 21 Oct 2010.

On 22 Oct 2010, the market opened gap-up and there is a Dragonfly Doji Candlestick.

Moreover, today is accompanied with good rise in volume as well.  The other indicators are also positive.

I am willing to go long on 24 Oct 2010 market opening if it opens higher, which seems very likely.