P&F charts this week

Date: 26th April 2015

Figure 1: CNX Pharma (12210)

Discussed during last week that Pharma sector Relative strength chart is turning down. Expect it to underperform Nifty in coming days.  CNX Pharma has breached important support levels and setup is looking weak.

Figure 2 : Auro Pharma (1289.15)

Double bottom sell after High Pole. Short term H&S formation triggered below 1336. Underperforming Pharma and look very weak. Short with Stop at 1320.

Figure 3: Wock Pharma (1625.30)

Another stock underperforming Pharma. Turned down after serious column consolidation. Stop at 1680.

Figure 4: Dishtv (75.20)

This is another stock that looks good to short. Double bottom sell signal after High Pole that breached important support levels.  Stop at 77.8 on closing basis.

Figure 1: CNX Pharma 0.25% x 3 cl Point & Figure Chart

 



Figure 2: Auro Pharma 0.25% x 3 cl Point & Figure Chart

 

 



Figure 3: Wock Pharma 0.25% x 3 cl Point & Figure Chart

 

Figure 4: Dish tv 0.25% x 3 cl Point & Figure Chart

- Prashant Shah 

 

Disclaimer:
All information provided above is for general information purposes only and does not constitute any investment advice. Company or Author shall not be liable for loss or damage that may arise from use of information provided above. The report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The readers of this material should take their own professional advice before acting on this information.

P&F charts this week

Date: 19th April 2015

Nifty Short term trend is bearish. What happens typically during this time is that trends with 'severe' Os tend to continue. Especially where bullish counts are negated and previous bearish counts got activated. Good thing about these setups is that their stops are very affordable. Below are some examples.

Figure 1: Bharatforge (1197.15)

Eye on previous bearish count of 1139. Stop at column reversal which is at 1207 currently.

Figure 2 : Mindtree (1292.20) 

I am looking at previous bearish count of 1224. Column reversal should be the stop which is at 1304 at the moment.

Figure 3: Eicher Motor (15311.10)

Turned down after column consolidation. Looks set for 10-15% downside. Shorts should be covered if it closes above 15520

Figure 4: TCS (2474.85)

Eye on previous bearish count of 2197. Need to see if it turns out to be a false triangle breakout. Shorts should be covered if close comes above 2500.

Figure 5: Sector RS chart

IT and Pharma turning bearish. Metals and PSE showing signs of hope. 

Figure 1: Bharat Forge 0.25% x 3 cl Point & Figure Chart

 

Figure 2: Mindtree 0.25% x 3 cl Point & Figure Chart

 

 

Figure 3: Eicher Motors 0.25% x 3 cl Point & Figure Chart

 

 

Figure 4: TCS 0.25% x 3 cl Point & Figure Chart

 

Figure 5: P&F Sector Relative Strength Chart

 

 

- Prashant Shah

 

 

Disclaimer:
All information provided above is for general information purposes only and does not constitute any investment advice. Company or Author shall not be liable for loss or damage that may arise from use of information provided above. The report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The readers of this material should take their own professional advice before acting on this information.

 

P&F charts this week

Date: 6th April 2015

Figure 1: UPL 
Low Pole defended trend line. Double Top buy signal occurred after Low Pole activates the target of 468. Stocks seems heading upwards for previous activated count of 487.

Figure 2: CESC
 Bullish Engulfing defending the trendline confirm the support. Horizontal setups breakout looks promising for 10% up side. Column reversal should be a stop for immediate buy but subsequent signals above trend line will give another opportunity if that happens.

Figure 3: SKS Micro

Stock has formed corrective pattern during last several days but remained above 45 degree trendline. And line again got defended with occurrence of Bullish Engulfing.  Looks like it is heading for previous activated count of 567.

 



UPL 0.25% x 3 cl Point & Figure Chart

 

CESC 0.25% x 3 cl Point & Figure Chart

 

SMS Micro 0.25% x 3 cl Point & Figure Chart

 

- Prashant Shah

 

 

Disclaimer:
All information provided above is for general information purposes only and does not constitute any investment advice. Company or Author shall not be liable for loss or damage that may arise from use of information provided above. The report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The readers of this material should take their own professional advice before acting on this information.