Technical Charts of Some IPOs of 2010

#1
Hi,

Just thought it would be a good time to see where are the IPOs of 2010 and what are the charts saying about them at the turn of the year. ;)

The criteria for selecting the IPOs analyzed is:
- More than 4 months since listing
- Starting with the highest gainer and then moving chronologically down the order :clap:
- The analysis is usually on Weekly charts, i.e. the trend in terms of weeks. This means these charts are useful for forecasting trends for about 1-3 months timeline; or the 1st quarter of 2011.
- All are NSE Charts
- NIFTY, the market index, is the largest trend indicator. So if there is a significant change in NIFTY, the expected performance could be affected in the short term. :annoyed:
- Fundamental analysis is not included so if your horizon is > 1-3 months, then you can use these charts as an entry point. And you can let your own analysis/strategy determine your exit points.

:thumb:
 
#2


TALWALKAR FITNESS Weekly NSE Stock Chart Technical Analysis
(This is a weekly chart, hence each bar/candlestick represents one week of activity)

Talwalkar Fitness (IPO) began trading on 10th May 2010. Since then the stock price has climbed steadily within an upward price channel.

Market Outlook:

-The price is headed upwards :clap:
-Target1: 290 Target 2: 325 SL: 256
-The only point of concern is that the week has ended with heavy selling pressure. :annoyed: This means that there could be initial fall in price when the markets open on Jan 3rd. So use good judgement before making the actual trade.

Technical Indicators:

-The price is moving within a price channel, between its lines of support and resistance, as visible on the chart.
-There is strong support at 256 and 218. Coincidently, there are the exact points where the price touches the support trendline as well. This shows a very co-ordinated price movement, which makes it easier to trade using technical charts.
 
#3
Thangamayil Jewellery: Negative Signals



THANGAMAYIL JEWELLERY Weekly NSE Stock Chart Technical Analysis:
(This is a weekly chart, so each bar/candlestick represents 1 week of activity)

Thangamayil Jewellery is a 2010 IPO which started trading on 19th February 2010. It enjoyed a bullish run for the first 6 months. Since then, for the last 5 months, it has been moving sideways.

Market Outlook

The price seems to have stagnated, and unless it breaks above 190, there is no chance it will revive its bull run. For now, there is a high chance that this price will start moving downwards soon.

The levels of support are 159 and 149 respectively.

Don't enter this stock right now, and get ready to sell your existing Thangamayil if the price continues downwards.

If Price Falling below 159 --> exit any long positions.

If Price Falling below 149--> Take short positions and enjoy the bear run.

Technical Indicators:

A pattern resembling the head and shoulders has emerged. It cant be exactly called HnS pattern but has a close resemblance.

The price has fallen below its long term diagonal support line today
 
#4
Persistent Systems: Facing Resistance



PERSISTENT SYSTEMS Weekly NSE Stock Chart Technical Analysis:
(This is a weekly chart, each bar/candlestick represents one week of activity)


Persistent Systems is a 2010 IPO which started trading on 6 Apr 2010. After an initial uprise, the price fell between July-Nov, and it has started clawing upwards again since the last 1.5 months.

Current close and CMP: 430

Market Outlook:

-The price is facing stiff resistance at 439. Unless it breaks upwards from this price level, it will turn bearish again.
-Buy only above 439.
-If holding this stock, put your stoploss just below 423.

Technical Indicators:

-There is a diagonal line of resistance and the price has stopped rising last week after touching this line.
-The current resistance also co-incides with the 50% Fibonacci level.
-The last week ended with a Shooting Star candlestick pattern
-This is a double resistance at 439. If the price breaks above 439, it will shoot upwards like a bullet. But if it falls below 423, it will began another downward swing.
 

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