Category Archives: Equity

Technical analysis on various equity stocks, Latest view on equity markets.

Grasim – Sell on Rise.

Grasim Inds at CMP- 3171 looks like a selling opportunity to me.  In below attached chart, it is depicted that prices is already broken support of 23.6% Fibonacci Retracement of last up move from low of 2210 to 3505.  Also prices has formed double bottom near ~3150 levels, once this level is broken prices will move to test next Fibonacci support at ~3000 levels.  Momentum oscillator RSI (14) is also showing initial signs of waning out.  Risk involved in taking short is, stock can move higher by taking support near 3150 (forming triple bottom).

Grasim Inds

                                                            Grasim Inds

Risk-averse traders can initiate short below 3150 levels, with strict stop of 3250.   Risk takers can use rise up to 3250 as a selling opportunity with stop loss above 3400, targeting 3000 and lower levels.

(Please read disclaimer attached below)

 

Tata Coffee – On the radar of Big Bosses

Anybody who looks below attached chart will agree with me that, for sure there are big hands involved in Tata Coffee.  If we see past price movement than it is quite evident that since from May’11 till June’12 Tata Coffee moved in the range of 900-800 barring few jerks, and that to were too small.  From June’12 onwards activity picked up and price moved gradually higher & higher.  In fact on 16 Nov, 12 stock made a high of 1564 with huge volume, which clearly tells us that either FII’s or DII’s increased their stake in stock, and if we see price movement then after, than in last one month prices are moving higher and closing slightly above than previous close, which clearly means that every dip there is a buyer.

Tata Coffee

Tata Coffee – CMP 1400

I know, up till second week of Nov’12 prices were trading just in the range of 1100-1000 and with one sudden spike range shifted substantially higher to 1450-1350.  For retail investor, this stock becomes too risky to take bet, but I sense that investors who are ready to take risk can take action on dip near 1250-1300 (if it comes) with stop loss of around Rs 50-100 according to risk-appetite.  Follow simple rule here, don’t hurry to accumulate and don’t panic with others when you see a dip.  Technical target for Tata Coffee is around 1750, so risk reward will be quite in favor.

According to my observation, in very few counters you see action like this.

EQUITY MOMENTUM CALLS FOR 18/12/2012

Recomm Scrip Last Close BPL-1 BPL-2 Stop Loss Note
SELL REL INFRA 515.5 495 485 521 Sell Below 510
SELL BPCL 344.9 332 322 355
SELL SIEMENS 669 650 642 685 High Risk
SELL WIPRO 370 355 349 376 High Risk
SELL ONGC 257.8 250 246 261
Please don’t forget to read disclaimer attached below

Dont try to jump in the trade, if Nifty is turning positive.

As such, i sense that most of the indices are trading near make or break level, and today’s announcement will drive the market.

 

EQUITY MOMENTUM CALLS FOR 17/12/2012

EQUITY MOMENTUM CALLS FOR 17/12/2012
Recom Scrip Last Close BPL-1 BPL-2 Stop Loss Note
SELL CIPLA 403 392 385 410  
SELL BHARTIAITEL 312 300 295 320  
BUY RELIANCE  840 855 868 828 High Risk
SELL RANBAXY 498 491 480 506  
BUY PNB 830 855 862 818  
BUY WIPRO 375 385 390 370 High Risk
Please don’t forget to read disclaimer attached below