Charts for the Day

[anil_s_trivedi]

Anilji
Can you give your opinion on Aurobindo Pharma. Regards

Dear Sureshji,

Aurobindo pharma is in secular uptrend. Stock consolidating and moving consistently higher. Stock mostly making flats and symmetrical triangles in consolidation patterns.

Right now it resisted below 50 SMA, but yesterdays volume move above 50 SMA is good sign price action wise.

A Simple analysis tells us break of 6-month support line(daily chart) will put intermediate trend to risk. And its a sign of caution for long term investor.

Momentum wise stock is not in good shape in weekly. As regular readers know, stock if made four bases in weekly in its uptrend its a risky proposition then to latch it on current trend. As it is subjected to over extended run in the stock. Daily momentum telling us it has potential to clear higher levels, but it needed to sustain 750 levels. I will be cautious if stock closes below 695 levels.These 695 levels is also coming from that lower trendline support, so take its as a crucial one.

So plan in short is, if long trail with levels mentioned. And be on alert as stock is slowly overextending its run. Any reversal day on stock should alert you. IF want to go long here, your stoploss again will come at 695 on closing basis.

 

[anil_s_trivedi]

What next for this scrip ?

Dear Timepass ji,

Dont have answer where it will stop. The point to posting was many have gone long into upper levels on retracement basis or S/R levels, but stock relentlessly moving down. Although yesterdays was a reversal bar with above average volume so hope for bulls around here.

Yesterday it opened gap down and closes above previous days close.

 

[SURESH MARATHE]

Anilji,
Thanks a lot for your detailed explanation.

 

[nitingosavi]

Anil sir,

can u post and analyse Infosys.

I am experiencing my study 100% wrong. it breaks levels.. and then bounces/falls... what's wrong with my study I am not understanding.

 

[anil_s_trivedi]

Infosys is in secular uptrend and stock on monthly just now resisted this month at highs and since then falling in on above average volumes, solace is its holding 50/200 SMA zone of 1050. So a break here with volumes not good for bulls.

Monthly chart have two down bars with high volumes and till now no monthly bar able to break it on upside. Current week bar will reveal whether potential for downside remains if current week bar closes near the lows, and we have already have volumes greater then past few weeks.

Anil sir,

can u post and analyse Infosys.

I am experiencing my study 100% wrong. it breaks levels.. and then bounces/falls... what's wrong with my study I am not understanding.

Dear nitinji,

As carried from previous analysis, stock didnt mention prominent weakness, infact its holded 50 SMA well. So stock maintaining its uptrend.

Recent price action in September infact got improved relative strength vs Nifty, Implying stock may break high levels made in earlier months of August.

Reading very short term view, Move below 1145 not good for bulls, will imply lack of upside thrust...In short it will be first sign of weakness on short term uptrend currently going on.

 

[nitingosavi]

Anil sir,

UPL / NMDC .. whenever possible. Can you analyse?

Is NMDC bottoming? I think its a good buy ... but not sure.

 

[anil_s_trivedi]

Anil sir,

UPL / NMDC .. whenever possible. Can you analyse?

Is NMDC bottoming? I think its a good buy ... but not sure.

 

[prst]

Anil sir,

UPL / NMDC .. whenever possible. Can you analyse?

Is NMDC bottoming? I think its a good buy ... but not sure.

If catching bottoms was easy, everyone would hv been millionaires .

 

[Rish]

Anil sir,

UPL / NMDC .. whenever possible. Can you analyse?

Is NMDC bottoming? I think its a good buy ... but not sure.

UPL bottom is visible near 418.30.

NMDC already bottomed out at 89.60 and moved,next reversal it may test 78.40...

The above levels are for knowledge purpose and not a trading call.

 

[nitingosavi]

If catching bottoms was easy, everyone would hv been millionaires .

ok ,
I am trying to be one of those millionaires. with stop loss.