Technical Analysis
Technical Analysis – Balrampur Chini
Balrampur Chini (Rs 93.2)
Sugar stocks were battered down last week on owing to a host of reasons including sharp drop in international sugar prices and the Government cracking down on hoarders.
Balrampur Chini was among the adversely affected stocks in this sector, down almost 17 per cent in the period.
This stock along with its peers in [...]
Technical Analysis – Fortis Healthcare
Fortis Healthcare (Rs 181.2)
Fortis Healthcare surged higher on Thursday following the announcement of the company acquiring 23.9 per cent stake in Singapore based Parkway Holdings.
The stock has been in an indomitable uptrend since the November 2009 trough of Rs 96.5, doubling in value in the last five months.
If we extrapolate the up-move from October 2008 [...]
Technical Analysis – Hindustan Unilever
Hindustan Unilever (Rs 219.6)
HUL had been under the bear’s hammer right from the onset of last week. The stock reversed lower from the intra-week peak of Rs 244.3 to end almost nine per cent lower.
The ostensible reason for this decline is the ongoing marketing war with Procter and Gamble though the P&G stock is moving [...]
Technical Analysis – Reliance Capital – 06-Mar-2010
Reliance Capital surged 8 per cent higher in the Budget session on the announcement that non-banking finance companies would be given banking licences. The stock followed up this surge with 2 per cent weekly gain, closing higher in the last three sessions. The medium term trend in the stock is however sideways between Rs 680 [...]
Technical Analysis – Jaiprakash Associates – 06-Mar-2010
Jaiprakash Associates (Rs. 146.1) surged mid-week after its February cement shipment jumped 61 per cent. This stock was in a sideways correction in the range between Rs 125 and Rs 180 since last May. It is now reversing higher from the lower end of this trading range giving it the short-term targets of Rs 158 [...]
Technical Analysis – Sesa Goa – 06-Mar-2010
Sesa Goa (Rs 446.2) sizzled in the first three sessions of the week and ended with 11 per cent gain. Expectation of strong demand for iron ore pushing prices higher helped the stock scale its former life-time high of Rs 424.4 and close strongly above it. The stock is clearly on fire and short-term investors can [...]
Technical Analysis – Reliance Industries – 06-Mar-2010
Reliance Industries was in the limelight again as the Lyondell Basell saga finally drew to a close with the Rotterdam based-company rejecting Reliance’s $14.5-billion bid to gain control over it. The stock formed the low of Rs 962 in the pre-budget sessions. But it spiked 4.5 per cent on Wednesday when it was announced that [...]
