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

Karur Vysya: Strong Support @ 520, Will Rise Again

KARUR VYSYA Daily NSE Stock Chart Technical Analysis:

The price fell marginally today from its opening, after a good upward rally during the day.  CMP is 534.7.

Market Outlook:

The price will remain sideways tomorrow with possibility of lower intraday low than today.

The price will reverse its short term correction and rise upwards.

If price does not make an intraday low of 528 or below, its a good sign to buy around 232-235 levels with a target at 580 and another target near 639.

Technical Indicators:

The price made a Tombstone Doji candlestick today, good possibility of reversal.

Very strong double Fibonacci support for this stock at 520.

Support of the 50 day moving average.  The price has remained above 50 day moving average since Apr 2009, i.e. 1.5 years.  It has again touched its 50 day moving average and will rise.

Public sector banks are in full bloom on the stock market.  Enjoy the ride!! :)  [while it lasts, nothing is forever]



KARUR VYSYA Daily NSE Stock Chart Technical Analysis


(Analyzed for Yasoram, Erode)