New Intermed Uptrend!!

[Saint]

Take some off the table if in MCLEOD RUSSELL.....Nice gains!!

All the best!
Saint

 

[p_haolader]

Aksh Optifibre | Your comments please

Hi Saint/Members,

I am very new to the market and technical analysis. I had made a small investment in Aksh Optofibre @ 73.75, it is now quoting at 70.55 . When i bought this share i had a look at its fundamentals and its announcements at BSE and it looked good to me. But today i had a look at its chart on BSE and I kind of concluded :

1. It's forming a descending triangle.
2. The MACD has fallen below the the 0-base line which is not a good sign.

Now my questions
1. Have I read the chart correctly perticularly the trend lines.
2. Are my resonings/inferences correct
3. Should i hold on to aksh optifibre
4. Any updates on the fundamentals, are they still stong

Please do reply.
Thanks and regards

-Partha

 

[sam]

Hi Saint (and others),

Would like to know if you are following Shasun Chemicals and Drugs (SHASUNCHEM). If so please advice on how charts look for this scrip from a medium to a long term perspective.

At these levels I have started to dig into fundamental details more than trading itself. I found the fundamentals of this company pretty good and a good Q3 results posted! So wanted to know the details of how the charts look for this scrip!

PS: Wasn't able to keep myself away from the market though am playing very cautious! Entered Ranbaxy today when it was 410 (in small quantity though - 50 nos to b precise)....wondering if it is a wise decision now ;-( (No doubt about the fundamentals or the upside of the company but just a bit worried about the entry point or time - when markets are so very heated - in fact was tempted to make the trade!! - Lotta lessons to b learnt from seniors like U - will definately do!!)

-Sam.

 

[roneeth]

Hello Saint,

Archies forming Higher highs and higher lows from past two Trading days.Pivot low was on 6th February at 178. Previous Pivot is at 203.
RSI at 49.9 showing bullishness.Could it be taken at the close of above 203?

Thanks and Regards

Roneeth

 

[mohanlate]

Re: Aksh Optifibre | Your comments please

Hi Saint/Members,

I am very new to the market and technical analysis. I had made a small investment in Aksh Optofibre @ 73.75, it is now quoting at 70.55 . When i bought this share i had a look at its fundamentals and its announcements at BSE and it looked good to me. But today i had a look at its chart on BSE and I kind of concluded :

1. It's forming a descending triangle.
2. The MACD has fallen below the the 0-base line which is not a good sign.

Now my questions
1. Have I read the chart correctly perticularly the trend lines.
2. Are my resonings/inferences correct
3. Should i hold on to aksh optifibre
4. Any updates on the fundamentals, are they still stong

Please do reply.
Thanks and regards

-Partha

Hi Partha,

Let me add my 2 bits before Saint gives his expert comments. I had entered into this one at 66. My comments are as follows -

1. Aksh fundamentals are good. The recent quarter results are per or better than expectations. On relative valuations basis, Aksh is not over valued.

2. With Sensex crossing 10K, money apparently is flowing into front line stocks. It seems investors are getting out of other stocks and entering the stocks that is attracting new foreign money. When that happens, small cap stocks like Aksh are badly hit. I guess this is one reason why Aksh may be gowing down.

3. Your inferences are right. It is forming a crude decending triangle. Other indicators are not looking good either. RSI is showing weakness in the stock. TRIX shows a down trend. MACD is negative and volumes going below their monthly avg. It has support in the 70-71 zone. I suggest you put a stop loss at 70 and wait and watch.

4. It is not looking good even on the weekly charts. Monthly charts show that the recent resistance of 69 is acting as support after that breakout. ADX shows the uptrend is not loosing strength. MACD is positive and at its peak.

5. A lot of "smart" money has been flowing into this stock for last few quarters. The monthly charts show a topping off of MFI. We may see money leaving the stock below the 70 level.

All in all, its a HOLD if you can wait for another quarter or two. Else you can book the loss (you said its a small investment) while its still small ! There are many other opportunities.

Hope that helped.

Mohan

 

[karthikmarar]

Mohan

Good to see you back. Missing you thread on chart patterns. Thanks for chipping in my thread during my vacations...

regards

Karthik

 

[jraj]

Hi Saint,

Could you please give your opinion on the following:

--Pantaloon
--3i Infotech
--Harrison Malayil
--Guj Fluorochemical
--Indo Gulf

Thx in adv.

Regds,
Jay Raj

 

[Saint]

Hello Saint,

Archies forming Higher highs and higher lows from past two Trading days.Pivot low was on 6th February at 178. Previous Pivot is at 203.
RSI at 49.9 showing bullishness.Could it be taken at the close of above 203?

Thanks and Regards

Roneeth

Hi Roneeth,

ARCHIES :Yep,so far this pivot low formed on 6th Feb looks like holding.Previous pivot low around 180.That 203 that you mentioned was a previous pivot high.As for atrade here,this is still in a sideways pattern.Now take out your weekly charts for a clearer perspective.Every bar is forming lower highs and lows with the previous bar.Once this takes out the previous high,look to enter.Till then,a wait and watch.For now a buy over 200 only,but next week,buy over this week's high(which is so far 187).

All the best!
Saint

 

[Saint]

Hi Saint (and others),

Would like to know if you are following Shasun Chemicals and Drugs (SHASUNCHEM). If so please advice on how charts look for this scrip from a medium to a long term perspective.

At these levels I have started to dig into fundamental details more than trading itself. I found the fundamentals of this company pretty good and a good Q3 results posted! So wanted to know the details of how the charts look for this scrip!

PS: Wasn't able to keep myself away from the market though am playing very cautious! Entered Ranbaxy today when it was 410 (in small quantity though - 50 nos to b precise)....wondering if it is a wise decision now ;-( (No doubt about the fundamentals or the upside of the company but just a bit worried about the entry point or time - when markets are so very heated - in fact was tempted to make the trade!! - Lotta lessons to b learnt from seniors like U - will definately do!!)

-Sam.

Hi Sam,

SHASUN CHEM :As you are looking at long term perspective,looking good on the monthly charts.You could look for an entry here with a stop at 92 and an addover 111.Monthly looking to break out of the asc triangle that it is in .Looking great so far!

Saint

 

[kumar7]

KRBL and ZUARI INdUSTRIES

Dear Saint and Traderji,

I'm a new member of your community, and new to the stock market. I would appriciate your comments on KRBL and ZUARI---technical an fundamental--- both are trading at life time high and with above average volume.

Thanx,

Kumar