Dabur: Might take some time to return to its support line

DABUR Daily NSE Stock Chart Technical Analysis:

Dabur has broken out from its long term line of support, and also below its Fibonacci Zero %. 


The next support levels for Dabur are 94, 84 and 77. 

There could be a small upward swing in the next few days as the price attempts to go back above its support line, but this means the price will have to rise above 101. If the price can rise and stay above 101, then this becomes a good time to enter. Until then, there`s nothing much one can do. 

With Dabur`s purchase of a Turkish company and proposed launch of products in middle east, Dabur does seem to have a good 2011 if it can pull up its socks and compete in the international market. 

The company is quite ambitious so even if you bought at higher rate, don`t worry. Just that you will have to wait until this stock price definitely comes up again (but which could be a while considering the market conditions *sigh*).


DABUR Daily NSE Stock Chart Technical Analysis


(Analyzed for Fox121, a MoneyControl fellow-boarder)

Hero Honda Falling Back after hitting resistance

HERO HONDA Daily NSE Stock Chart Technical Analysis:

Hero Honda is falling again after a few days of rise.

I hope you have been following my newsletter, and were bullish on Hero Honda just when it rose and have made money on this rise.  Also, if you haven't sold HH already if you bought when I recommended it in my newsletter, sell it now to book profits.  (And if you haven't subscribed newsletter but want to, click here).

Market Outlook:

• The price could fall further during the next few days.

Technical Indicators:

• The price reached its resistance level but retraced from there and could not break out.  
• Support is at 1910 and then at 1865.

HERO HONDA Daily NSE Stock Chart Technical Analysis

Reliance Communications: Support @ 132

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Stock price of Reliance Communications is falling like a missile from the sky.  Today it closed at 143.65.

Market Outlook:

• Where will this fall stop?
  The price should stop falling after falling another 11 rupees, at Rs. 132.
• If it starts rising after 132, good opportunity to buy and make money on this one (its been a while since anyone made money on this one)

Technical Indicators:

• The dreaded Head and Shoulders has formed recently, indicating that the price is going to keep pushing down further.
• The market bottomed out twice at 132 in the past 2 years.  This level is only 11 rs away from today's close.
• If market takes support of 132 and rises back, its a good time to buy.  Target can be decided only after it U-turns.
• In case it tumbles below 132, the next support is at 113.

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Indiabulls at rs 176 Support line, Might Rise

INDIABULLS Daily NSE Stock Chart Technical Analysis:

Indiabulls again fell today, Opened at 196.4 and fell throughout the day to close at CMP 180.5 (losing close to 8% on a single day).

Market Outlook:  

• The price fall will be challenged by the support at 176.  It will be important to watch if the price respects this level or breaks and falls below it.  Even today you can see that the price reached this important support level as its intraday low but then rose back again.

Technical Indicators:

• 176 is a double support - a double bottom and Fibonacci.  The moment stock price touched this level, the market resumed buying interest in Indiabulls.
• If the stock remains above 176 and rises again, one could buy with a target of 216-221.
• The stock is deeply oversold, indicating a possible upward correction very soon.
• If the price falls below 176, the next support will only come at 159.  

INDIABULLS 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

Bilcare Rising

BILCARE Daily BSE Stock Chart Technical Analysis:

Bilcare rose today, Opening at 674.95, Close & CMP at 686.25.

Market Outlook: 

• The price seems to be rising again.  It should go atleast up to Rs 720 -725 levels.
• If it crosses Rs 753, this could be very positive for a further rise.

Technical Indicators.

• The price has made two negative trend breakouts in just one month's time.  A long term support line is helping the price from falling any further. 
• A morning star lookalike pattern has formed today, this could be a positive signal for price rise after a week-long fall until yesterday. 
• Tomorrow could be a crucial day as the market could fall significantly due to LIC and Central Bank loan scams, and prevent the positive rise in Bilcare.  If Bilcare doesn't rise tomorrow due to this reason, then it makes this stock all the more buyable, and we should enter when it starts rising again.

BILCARE Daily BSE Stock Chart Technical Analysis


(Analyzed for Prakash, Vidisha)

GRANULES INDIA Daily NSE Stock Chart Technical Analysis

Granules India has fallen below its support trendline and is closing lower than the support since 4 consecutive days.  The price is attempting to rise back into the zone.

If the price cannot rise above 94, the situation could get difficult.  If it does rise and close above 94, there might be an opportunity to buy.