13Oct18 : Bajaj Finance looks great for investment at this level

Bajaj Finance, the stock that made investors very elated in last couple of years, has corrected in a very healthy way and seems to have bounced from the near 200dma support area.

As one can see on a weekly chart it just fell short of doing bullish engulfing pattern. But look at the volume, and the reversal from the exact trend line.

I would buy above 2335, with stop at 2150. Target, is open in this case, but at least its previous high.

18082018 - Stock Analysis

This analysis is for my study purpose (I am not SEBI registered). No recommendation to buy or sell by any chance. Decision to invest is totally yours. Even I don't invest on my ideas, so be careful :)

1. Nilkamal Ltd.

Nilkamal on a weekly chart is forming a triangle pattern. A break above this triangle at or above 1925 would give a good move to the previous high of 2270 or above. Stoploss is around 1810.

2. India Nippon Electricals

Stock is forming tringle pattern on daily & weekly. Not sure if it will breakout of the pattern or not, however at CMP of 508, it can be bought for 535. Stoploss of 490.

3. Shreyans Industries

In consolidation. However indicators are turning positive. Would enter if it breaks above 180. For the target of 208/220/230. Stop at 150. CMP 165. Breaking 180 is a key. If it fails to break, one can short it for 144 with 190 as SL.

4. L&T Finance Holdings

Stock is in consolidation, however making good price structure at the important resistance level. A breakout above 186 will take it to the 190/200/212 levels.Stop at 170. Hopefully it breaks 186 in next 2 week.

15Aug2018 - Stock Analysis

This analysis is for my study purpose (I am not SEBI registered). No recommendation to buy or sell by any chance. Decision to invest is totally yours. Even I don't invest on my ideas, so be careful :)

1. DLF

DLF broke out from the resistance level that was tested and failed for for past 2/3 times. While breaking the resistance level at 197, it also formed a inverted head & shoulders pattern. Lets see how it plays out.

If it sustains above 200, it should reach the target level of 225 which is the target of inverted H&S pattern. Stop loss is at 195.

Sun pharma breakout

Sun pharma broke out of long consolidation today due to good results. If it sustains above 600, it should go places ☺️

9Aug2018 - Stock analysis

This analysis is for my study purpose (I am not SEBI registered). No recommendation to buy or sell by any chance. Decision to invest is totally yours. Even I don't invest on my ideas, so be careful :)

1. Axis Bank

Axis bank has time and again tried to break up the trendline and failed. This time it has touched the trend line again. Will it break it?

I feel this time it is different. It should break the trend line. If it does so on closing basis, hence have taken a small position today around 619. Stoploss 605. Target of the entire pattern is about 800+, but i would be happy with 50 to 100 points above the trendline.

2. Gruh Finance

Nice triangle pattern forming on Gruh. Should give good returns if closes above the triangle (above 340). SL 329. Target 400. 

Inspiration : Manas Arora

Will be adding the articles / stories about some inspirations from the stock market and Technical Analysis area every week. These are the stories that come my way through various channel like twitter, economic times, money control and all other news or micro blogging sites.

So here goes the first of the lot.. Manas Arora. You can find him on twitter as @iManasArora 

Here he reveals his secrets of making money from stock market using technical analysis. Few of the interesting facts

1. He is not a day trader, but does positional trading using end of day charts

2. Have suffered losses that would have new traders run for the cover and say good byes to the trading, but had faith and continued with his passion

3. Found guru in Mark Minervini and read his book "Trade like a stock market wizard" which can be found on amazon.com or amazon.in

4. Manages risks well, takes risk of only 1% of capital for any one trade and 7% stop loss for any trade

5. Uses the strategy, he calls as "Contraction" which is well explained in the article and in his tweets as well

6. At any given time has only 5 positions. (this in fact I liked most and will be updating my portfolio to mimic this), re enters the same positions again and again whenever there is a signal as per his system

7. Takes one-on-one trading sessions for upcoming traders

Here is a link to the article from money control

Do read and learn... 

Summary of last weeks analysis

This is for my tracking. Not any advertisement or recommendation to invest based on my ideas. I may be completely completely completely wrong. Please use your own methods to invest. You are responsible for your losses and profits. I am not SEBI registered analyst. Writing this blog helps me put my analysis in words and helps in my tracking, so thats it, nothing more. No recommendation to buy or sell.

Week Summary:

If I had invested Rs. 20000 in each of these scripts, today, I would have a profit of Rs. 9,970/-. That would be 7% on invested capital of Rs. 1,40,000/-.

Not bad for a new learner... :)

Of course the market is turning around and it has a big role to play. Also if one removes Venkys which was an outlier, the profit would be Rs. 1420 on invested amount of 1,20,000/ which would be about 1%. Again this is positional play and if I had invested, I would keep holding these till the stop loss or target is hit. Would be interesting to see what this entails when I actually invest and close these positions either on target or on main / trailing stop loss.

Happy investing.

4Aug2018 - Stocks Analysis

This analysis is for my study purpose (I am not SEBI registered). No recommendation to buy or sell by any chance. Decision to invest is totally yours. Even I don't invest on my ideas, so be careful :)


1. Philips Carbon

Trying to breakout of 5 month consolidation. 20sma is crossing 50sma which is also near 200sma. RSI has entered into bullish zone. 

Should be a good buy on a clean breakout above 274 on daily closing basis. Stoploss 260. Can touch previous high of 319. 

2. LT Foods (DAWAAT)

Reversed from a good longtime support level. Breaking above 64, can put it on a good momentum. RSI is trying to break level of 50, 20SMA slowly moving upwards.

Should be a good buy above 64 (closing basis), with a stop at 58. Target could be 68/72/75/79.

3. VA Tech Wabag

Weekly chart. Bouncing from the listing price of 2010. On daily chart, it closed above 20sma for the first time from May 2018. However it failed in the past to cross 50SMA convincingly on few occasions. So what makes it different this time? 

I am counting on 2 things, one is the reversal from an important level of 2010. Secondly, on daily chart, RSI made triple bottom and the move has started upwards. Also add to the fact that overall market is making positive moves.

Can buy a small quantity at CMP 365 with a stop of 335 and more once it breaks above 391 and 415. Target can be 415/451. 

One other possibility can also be that it consolidates between 364 and 415 for some time before making an upward or downward move. So be cautious, but optimistically so.

4. Century Ply 

Price structure seems to be negative. If it doesnt hold support at 239, it can go down till 224/221 level. It did close below 20SMA. RSI briefly moved above 50, but could not hold and back in bearish zone. Price got rejected from 262 a couple of times.

If it breaks 239 and 221, next support is in the region of 209 to 200. View invalid if it moves above 254 on closing basis.

31Jul18 - Stocks Analysis

This analysis is for my study purpose (I am not SEBI registered). No recommendation to buy or sell by any chance. Decision to invest is totally yours. Even I don't invest on my ideas, so be careful :)

1. Jindal Steel & Power

Very interesting graph. Pattern is of rounding bottom which is kind of bullish, and it did jump from a good support level. Certainly one to keep in watchlist. 

CMP 205.45, Move above 229 will show us 247/261/273/290. Move below 187 will show us 174/158/128.. lets see where it goes..

2. Venkys

It did 100% retracement from top of 4300+ till 1935 and bounced from this level. Notable thing is after 25th Apr 2018, for the first time it has closed above 20 sma. RSI is about to enter into bullish territory. SHOULD be on the watchlist and can enter in small quantities with stop of 1930 for long term.

Level matters... and how..

On twitter I have been following a person named Amit Jeswani. He runs a whatsapp group or email group with a handle "Level Matters", when I saw the BF investment chart today, remembered his name instantly

Technical analysis, it seems, is all about entry and exit at right levels. Support and resistances are the basics of this discipline and one needs to learn to identify these levels with some accuracy.

One of the reasons I love technical analysis...so much to learn..

30Jul2018 - Stocks Analysis

This analysis is for my study purpose. No recommendation to buy or sell by any chance. Decision to invest is totally yours. Even I don't invest on my ideas, so be careful :)

1. BEML

Nice jump from long term support of 775. CMP 897.1, StopLoss 860, Target 970/1030/1100.

2. GSFC

CMP 118.3 , StopLoss 114, Target 124/130

3. M&M

CMP 933, StopLoss 316, Target 1004

Sun pharma - Consolidation

Sun Pharma - In consolidation from May 2017 in a range from 440 to 600. 200sma is turning direction slowly. 

Price pattern within the range looks like head and shoulder, however not confirmed yet. Should be a good buy if sustains above 604. 

Canara Bank - Nice consolidation

Nice consolidation on daily chart. Supply zone between 284 to 288. Demand zone between 225 to 217.

ADX & RSI has turned bullish making it very much probable to move above 288 and beyond. If it moves above 288, the immediate resistance would be 200sma i.e. 304 to 306 range.