New Intermed Uptrend!!

[Saint]

Hi Saint,

Thanks for the tips. I checked some of them and came out with these observations. Kindly send your feedback.

1.ABB- The RSI and Stochastic oscillators show a strong overbought signal. But weekly candlestick chart show that bulls are still in control. Might cross 1550 tomorrow.
2. BEML - on daily charts-MACD showing a positive divergence going positive. Nice pick up in volumes in July after the fall from 1st June. The bears came out big winners today after pushing the price from a high of 677 all the way to 650 signalling an increase in selling pressure. Weekly candlestick show a plausible bearish reversal of trend over the next week. Its still an attractive buy at 650 (P/E of 13 and 140% increase QoQ, 614% YoY) on strong fundamentals.
3.SESA GOA - After a strong uptrend last few days, today the bears seem to come out strongly on bulls. A strong rally finally won by the bears. Look for possible alert tomorrow. (BTW, China's recent increase in iron demand by 25% has will push the quarter sales up significantly). Weekly candlestick is in a doji or spinning top pattern in haramai position - a potential bearish reversal.
4.Guj NRE Coke - Breakout on 125 resistance on daily chart. Bulls coming out in good volumes this week (1.2 million today) as winners, after a good fight with bears yesterday which ended in bears winning marginally (it was a doji yesterday after the bears rule on the day before). There is some selling pressure the bulls will have to withstand tomorrow for a bullish outbreak. Weekly charts show bullish reversal.

Thanks

Hi mohanlate,
Great analysis.......I agree with all your observations.As far as ABB is concerned,I am going to ride this trend till I see a reversal signal on the monthly.I was hoping that BEML would pull back which it did ....got in around the 647 area,am still bullish on that stock.Always too glad to exit though with a loss if stops get taken out.But totally agree with your observations.SESA GOA-may pull back a bit or may fire.Even if this week ends with a doji/harami,I would turn pessimistic only if the entire bar from last week gets negated.GUJ NRE--looking good.
Once again,great analysis.....great observations.Thanks !
Happy Trading!
Saint

 

[ravi t]

dear Saint
good call regarding Tata Teleservices. on daily chart William % R is in good position though slightly towards selling region but at the same time on weekly charts tells a good story for this scrip, now i am not an expert of elliot wave analysis but slight hindsight reveals that a complex wave is in the offering in the weekly chart which might take it aabout 37. kindly correct me if i am wrong and suggest your opinion on this script.
Thanks and Regards
Ravi

 

[ucalegon]

Re: Swing BATA

Looks very positive today. Touched 114!!!

Any reason for this? Fundamental or otherwise?

 

[Saint]

Hi Ravi,
Agree ........My first target is about37,but feel it is headed much higher,unless some news,etc changes its course.

Happy Trading
Saint

 

[Saint]

Nice moves in Polyplex,Jaiprakash Assoc. and Guj NRE Coke today........ !!

 

[avinash]

Hi Saint,
Jaipraakash Asso. had a pullback today.........is it wise to enter here?

Thanks in advance
Avinash

 

[ravi t]

dear saint
what is your view of teledata info. is it the right point to enter at 28 or stay clear and wait for it show some reall movement
regards

 

[devansh_god]

hi experts,
i just joined yesterday....... great site this.......wish 2 recommend it 2 all my frnds......
pls guide me on the short term future of cosmofilms. i bought it @87, some 20 days back, im a trader, not an investor. should i stay and average NOW.. should i exit and book losses, or should i wait for it 2 fall more for averaging....... pls guide me.... ive a considerable amount blocked in this scrip.......
warm regards

 

[Saint]

Hi Saint,
Jaipraakash Asso. had a pullback today.........is it wise to enter here?

Thanks in advance
Avinash

Hi Avinash,
Jaiprakash Assoc.on the weekly charts still look higher,but the daily charts have had 5 up days,and may correct over the next few days.Stalk it and try to get in on a pullback.

Happy Trading!
Saint

 

[Saint]

dear saint
what is your view of teledata info. is it the right point to enter at 28 or stay clear and wait for it show some reall movement
regards

Hi Ravi,
TELEDATA INFO is still in a downtrend.....this point could be the very bottom,or just a pause before plunging further.If this can rally a bit and then pullback making a higher pivot low,then it's good for a go.As for TELEDATA now,not yet!!

Happy Trading
Saint