Technical Analysis
Technical Analysis – Gitanjali Gems – buy for medium term
Investors with medium-term perspective can consider buying the stock of Gitanjali Gems (Rs 225.9). The company manufactures and retails jewellery. Following a sharp decline from its November 2010 peak of Rs 395, the stock found support around Rs 160 in early December 2010. Subsequently, the stock started trending higher and has been on a medium-term [...]
Technical Analysis – BEML
BEML (Rs 616.5) BEML tumbled headlong in to a deep pit triggered by weak earnings to record the weekly low of Rs 565. Key medium-term support for the stock is Rs 665. Though the stock closed below this level on Wednesday, the bounceback on Friday is promising and could denote a false break-down. Investors can, [...]
Technical Analysis Buy Call – Brigade Enterprises
Investors with medium-term perspective can consider buying the stock of Brigade Enterprises (Rs 111.6). The company is a real estate developer that focuses on the development of residential, commercial and hospitality properties. After encountering resistance at Rs 187 in January 2010, the stock reversed its trend and has been sliding lower. However after retracing 61.8 [...]
Sizzling Stocks – Technical Analysis – TVS Motor – bearish from a medium-term perspective
TVS Motor plunged 13.6 per cent in the last week. The stock reversed direction in late November 2010, after encountering its long-term key resistance near Rs 85. Since then, it has been on a medium-term downtrend. It is hovering way below its 50 and 200-day moving averages. Both daily and weekly relative strength indices are [...]
Sizzling Stocks – Technical Analysis – DLF
After testing its key long-term support in the band between Rs 250 and Rs 260, the stock nose-dived 11.6 per cent last week, conclusively breaking through it. The stock has been on an intermediate-term downtrend from its October 2009 peak of Rs 490. In October 2010, the stock peaked at Rs 397 and has been [...]
Technical Analysis – Amtek Auto
Since December 2009, Amtek Auto was declining from the key medium-term resistance at Rs 220. The failure to surpass this hurdle could result in the stock vacillating in the band between Rs 220 and Rs 100 for few more months. The stock was unable to move above Rs 200 since then and it declined to [...]
Technical Analysis Buy Calls – Dhampur Sugar
Dhampur Sugar Recommended price: 81.95 Target 1: 86.05 Target 2: 88.00 Stop Loss: 79.50 Dhampur Sugar is one of the integrated sugar mills in India. With domestic sugar prices bottoming out at 25 per kg, we believe realisations are likely to improve in SY11 and allowance of sugar exports would boost volumes, going forward. We [...]
