Indian Metal Stocks: Nalco, Hindalco, Ster, Sesa, SAIL

NALCO:
Short Term: Possible Cup and Handle - Bullish possible post breakout above 408.

Current Price: 401.85
Stop Loss: 396
Target 426

Medium Term: Flag breakdown
Action: Short
Stop Loss: 427 level
Target: 300

Chart:

HINDALCO:
Rs. 185 is invalidation point for this wave count. break above 185 can take tha share to 200+ level.
Based on my preferred count. we are looking at completing wave 2 for Hindalco. Break of rising trendline (TL-1) shall be bearish for stock. In that case, stock shall be intermediate wave 3. But, i am keeping targets on hold, until the TL-1 is broken/ There is good evening star on Hindalco, marked in YELLOW BOX, this is bearish structure.

Chart:

Sterlite
Oh my my, I am seeing this stock after so many day. It has perfectly adhereed to wave count and now is moving to wave 5 down. The immediate target for STER is 140. The medium term target for wave 5 is approx 120. This old chart of Ster, which I had posted in Apr 2010, when i had called for wave 2 top for Ster and well this has been the case till now. Stock has now completed wave 3 and wave 4 and headed for wave 5.

 SAIL:
A similar story on sail. Same day I had called for wave 2 top on Sail. the price of sail then was 228, from that point in Apr 2010, SAIL had dropped to 185, which was end of wave 3. However, I cannot consider consolidation in May to Jul as wave 4, cause Wave 4 cannot enter into territory of wave 1. As of now, I am naming this formation as ABCXand ABC pending. There is a bearish Flag breakdown on SAIL with a target of Rs, 150. This is a good support zone for SAIL. A stoploss for this position (short) can be considered at Rs. 201. The current price of SAIL is 190.

SesaGoa:
Completion of 5 impulsive wave up to complete upmove in a Cycle wave. In fact, this stock is now actually starting its bearish waves, with start of Primary wave A. The bare minimum retracement for Sesa I am looking at is up to end of Primary wave 4, which would be in the range of Rs. 50 to 100. This is gonna turn heads as the stock is now at Rs 350, and anyone will say this guy is nuts and loves giving absurd target, but then that i view.

Long Term Sesa Goa:

 Shorter Term Chart:
The bracket marked in yellow is a Head and Shoulder strucuture, which has broken. The target of HnS is Rs. 287 with a Stop loss of sell of Rs. 340.

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

Stock Picks: IDEA, DIVISLAB, EDUCOMP

Idea give breakout today. Last three days price action is a Morning Star followed by a Bullish Flag Breakout. The stock's target price works out to 67 - 70. With Stop loss of 58.50(monthly Pivot Point).

DivisLab: Long Term Pick:
Based on Long term Weekly trend, the stock can run up and make new highs.

Weekly Chart:

Intraday Chart: 30 min breakout:
The stock has been consolidating in the price from 680 to 640, even making an Inverted Head & Shoulders on 30  min charts with Neckline at 680. The current price of stock is 693 with breakout zone 680. Also, based on EOD chart, the chart has given a break to 5 Day Swing with Stop Loss now becoming 660 for long trade, while based on 10 days EOD chart the swing stop loss is 656.20.

Educomp:
Falling Wedge, Triangle Breakout on 4 jan  2010, with volumes. The stock is currently at 778.35. The target works out to 850, with low stoploss of 700, where the stock turns to Head and Shoulder structure, where below 700, can reac to Rs. 500, if turns to a successful Head and Shoulder.

1) As of now Stock has broken 10 day swing on 4th Dec with today been an Inside Day.

2) Inside day: on stock with range breakout zone been: 797.7 on upside and 765 on the downside

 
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

Stock Ideas: ZEEL, SUZLON

ZEEL: Zee Limited
Flag Breakout:

05-Nov-09	225
17-Nov-09	274
Distance	49
Consolidation:
Start	18-Nov-09
End	21-Dec-09
BO Day	21-Dec-09
CMP	267
Tgt	310
SL	251

 Today Volume was also higher than last 24 days

Pivot Points

SUZLON: Continues in Upward Trajectory: CMP: 84.25

Suzlon is going great guns. The stock has broken out of its downward channel, and there is rather falling complex sort of HnS pattern on the chart, which has 110+ target on stock. Today stock made high at daily 89 SMA level, and it is at major EMA contraction zone. The 50 day SMA is at 76.909

I am long in this stock since price of Rs. 79, now SL moved to 79. Pivot Points on chart

Disclaimer:

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

NIFTY: Short Term Analysis

 Nifty Intraday:

Nifty EOD:

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