Wednesday, June 16, 2010

Stocks more: Bomdyeing, Century, Cairn, Crompton

And the some stocks jus keep coming:

One more: Bomdyeing:
The stock came down from 630 to 474 from 13 Apr to 25 May. The is now turning, and is lookign poised for an upside burst. This stock can be rocket stock for upmoves. This stock is currently at fairly low ATR, have given a positive 5-13 EMA crossover, could be good long trade with SL of 500, while 1.5x atr suggests a SL of 485. Althought ATR is relatively low, the stop is not too low in absolute terms. However, seems like a good stock to enter. 480 is a good support for the stock and I would say low stop loss would not hurt.


Century Textile:
From one textile stock to other. This one is also sporting a nice Cup and Handle. The currnet price of stock is 467, and the cup and handle lip is at 460. The level 450 is good SL, it is also a the crossover zone where EMA 5-13 and SMA 20 had a crossover. The stock has closed today above EMA 34 and is backed by good volumes over last few days. The ATR is also lowest, can a less risky upside stock.


CAIRN India:
Nice Inverted Head and Shoulder on Cairn India. The stock has given a good positive EMA crossover (5-13-34), the bollinger bands have just now expanded towards bullish, today was a good Bullish Hammer price action and a dip below neckline was bought out completely.
Based on Inverted Head and Shoulder, the target for the stock works out to Rs. 340, vs the current price of 305. The EMA cross over was on 10 June at Rs. 297. This price can be good SL -somewhere in the range of 295 seems a good level. The monthly Pivot of stock is at 295, so this can be a good SL, and would be a good support for the stock.


Crompton Greaves:
Now, this is stock has given a fantastic Inverted head and shoulder with superb EMA Crossover. In fact, the stock has a given a good EMA 5-13-34 crossover and is abvoe its 50 and 89 SMA. Plus, a nice breakout with volumes. The current price of stock is 255. Based on inverted HnS, the target price of the stock works out to 290. A new high is comin for the stock. ATR is at 8, just about taking a turn, could expect this one to go high now. :)
I can say this can be my top pick in the days to come.


Now, I am tired and sleeping, goin by alphabetical order is stopping at C now. :)

There would be loads of more stocks, these sre just few.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

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