Technical Analysis 9: Good Luck Steel Tubes Ltd.

19-Nov-2014

Last closing price (19-Nov-2014): Rs. 79.70 (BSE)

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Good Luck Steel Tubes has formed an Up Flag on the Weekly chart.

Closing price on BSE:  Rs. 79.70

Date Identified: 19-Nov-2014

Target: Rs. 98
Stop Loss: Rs.60 

Duration: 9 weeks

Technical Analysis 8: IOL Chemicals and Pharmaceuticals Ltd.

13-Nov-2014

Last closing price (12-Nov-2014): Rs. 66.45 (BSE)

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IOL C&P has formed an Up Flag on the daily chart.

Closing price on BSE:  Rs. 66.45

Date Identified: 13-Nov-2014

Target: Rs. 80
Stop Loss: Rs.62 

Duration: 5 weeks

Technical Analysis 7: Steel Authority of India (SAIL)

05-Nov-2014

Last closing price (3-Nov-2014): Rs. 86.75 (BSE)

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SAIL has formed the Inverted Head and Shoulder pattern on the daily chart.

Closing price on BSE:  Rs. 86.75

Date Identified: 4-Nov-2014

Target: Rs. 105

Stop Loss: Rs.83 Duration: 4 weeks

Technical Analysis 6: HSIL Ltd.

7-Oct-2014

Last closing price (7-Oct-2014): Rs. 373 (BSE)

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HSIL Ltd has formed an Upflag with the break out candle on daily closing on 7th Oct. Expecting the stock to reach the target price of Rs.480 by November first week. This stock has been on an uptrend since April with minor corrections on its way.

Closing price on BSE:  Rs. 373
Date Identified: 7-Oct-2014
Target: Rs. 480
Stop Loss: Rs.366 
Duration: 4 weeks

Technical Analysis 5: Escorts Ltd.

12-Sep-2014

Last closing price (12-Sep-2014): Rs. 147.60 (BSE)

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If we look at the Escorts chart for the past 3.5 years, it has formed a Rounding bottom pattern with a long 2.4 years of consolidation of price movement. The break out after Rounding bottom happened in the first week of November 2013 with sharp rise in volumes followed by an Up-Flag formation. 

The stock touched the short term target of Rs. 145 – Rs.150 only couple of times and that price band formed a resistance for the past 9 months.

On 12 Sep 2014 closing, the stock gave a break out forming an upflag in the weekly chart. This would be good stock to accumulate in dips. The immediate target would be Rs. 198 which is expected to reach by October end.

Closing price on BSE: Rs.147.60

Date identified: 12-Sep-2014

Target Price: Rs. 198
Stop Loss: Rs.138

Target duration: October end

Technical Analysis 4: Firstsource Solutions Ltd.

09-Sep-2014

Last closing price (09-Sep-2014): Rs. 42.60 (BSE)

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FSL has formed an Upflag with the break out candle on daily closing on 9th Sep. Expecting the stock to reach the target price of Rs.55 by December. 

Closing price on BSE:  Rs. 42.60
Date Identified: 09-Sep-2014

Target: Rs. 55
Stop Loss: Rs.40.50

Duration: 2.5 months

Technical Analysis 3: Tube Investments of India

03-Sep-2014
Last closing price (03-Sep-2014): Rs. 312.80 (BSE)

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Tube Investments of India Ltd. has formed the Up Flag continuation pattern in the daily charts with a break out today.

Closing price on BSE: Rs.312.80

Date identified: 3-Sep-2014

Target Price: Rs. 399
Stop Loss: Rs.299

Target duration: 38-58 days.

Technical Analysis 2: Tata Communications Ltd.

29-Aug-2014
Last closing price (28-Aug-2014): Rs. 375.80 (NSE)

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Going by the past 8 months chart data, Tata communications Ltd. had formed Upflag couple of times. Upflag was formed on 31-Dec-2013 and later on 27-Mar-2013, with surge in volumes.

On 28-Aug-2014, Tata Communications Ltd. formed the bullish pattern Inverted Head and Shoulders on the daily chart. The closing price was Rs.375.80 on NSE. 

As per the calculations, the stock is expected to reach a target price of 399.80 in 7 trading days from 28-Aug-2014.

Technical Analysis 1: Suven Life Sciences Ltd.

24-Aug-2014
Last closing price (22-Aug-2014): Rs. 131.75

If we analyze the stock of Suven Life sciences for the last 1 year, it formed a clear Up-Flag on 21^st April 2014 after a consolidation phase between 11^th Nov 2013 to 20^th April 2014.

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Post the break out candle, the stock maintained a steady uptrend barring few minor corrections in its move upwards.  

Going by the chart for the past 10 year data, in the last quarter, the stock broke the Rs.10-65 range it was in and has started its upward move. 

The stock has been forming higher tops and higher bottoms since the break out on April 21, 2014. 


This could be a good stock to accumulate based on Technicals. Stop loss should be Rs. 85