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.