Godrej Properties : At inflection point !!

 

Godrej Properties: Set to resume its prior trend !?! 

This stock has remained one of the best company comparing to its peers in terms of Goodwill, Company Management, Company Fundamentals, Price Trend.

This stock has produced good returns for their investor in last 5-6 years. The stock price has grown multifold in the last 5-6 years and likely continue to perform well going forward.

Like most of the stocks, this stock also witnessed sharp selling from Early Feb 2020 till late March 2020. In absolute terms price tumbled heavily from 1168 to 505 levels. 

Analyzing the weekly chart of the stock price, it seems it has been trading in the Ascending parallel channel. The peak is formed near the Higher end of the channel where the bottom has formed near the lower end of the channel.

From the attached chart, it is evident how the price has traded in the channel and how the price has provided importance to the median line of channel historically.

Recently, the price has consistently found support near the Median line of the channel and has been consolidating near the same which suggests "the lull before the storm".

Also, near the same juncture price has accompanied with 20, Exponential moving average support which adds further weight to the support area. Looking historically this moving average has been respected by price nicely.

The stock price is trading well above short, medium, and long term moving averages which define bullish trend in price.

The volume activity seen recently is quite promising and compliments bullish view on price.

The chart attached above displays technical indicators along with a price chart.

The Momentum indicator attached beneath the price chart has entered into bullish territory which is bullish signal and compliments bullish view in price.

The Price-Volume indicator displayed in the last panel has reversed swiftly from 0 reading which is a bullish signal.

Following price action and indicator, positioning price has the potential to scale higher to challenge its previous high and test the upper boundary of the parallel channel line.

The above view holds true until the price does not close below 830 levels. The strong support is visible around 885 - 860 levels.

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Disc. The above-shared analysis is solely my view as per my understanding and knowledge and for educational purposes. I will not be responsible for any loss or gain incurred. 

 

CCL PRODUCTS : MULT-MONTH CHANNEL BREAKOUT !!!

CCL PRODUCTS : ATTRACTIVE CHART SETUP

The stock topped out in Feb 2017 and post that stock has been underperforming. 

After printing an All time high in Feb 2017, stock has been consistently making Lower high and lower lows. 

The underperformance continued almost for more than 3 years and now stock popping up some bullish signals. 

The stock was precisely trading inside Descending channel from last 3 year and now price has registered breakout from the same which marks an first bullish signal.

Moreover, the breakout has accompanied with surge in volumes and wide bullish candlestick.

From past few weeks stock price was struggling to break its previous swing high (260), however this week price has broke the ceiling and has closed above the same which is another positive signal.

Aswell, stock has been trading above 200 Exponential Moving Average which shows strength in price.

Furthermore, the Price-Volume indicator has reversed taking support near 0 reading which compliments bullish view in price.

The Strength indicator, MACD is above 0 reading and MACD edging higher converging its moving line which indicates prior trend likely to continue.

Following the price action and other indicators positioning, the stock price has potential to scale higher towards 310-350 in short to medium term.

The above view hold true till price does not close below 240 levels. The strong support is visible around 263-255 levels.

CCL PRODUCTS (W)
(Click to Enlarge)

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Balrampur Chini : At sweet spot !!

BALRAMPUR CHINI : SWEET DAYS AHEAD !?! 

This stock has been in my radar from last many days and looking at previous week price action it seems stock likely to attract bullish momentum going forward.

Looking at the longer term time frame chart, the stock has been forming one of my favourite pattern. The readers who are reading my blogs regularly will get the clue which pattern i am talking about.

The weekly chart attached below shows the stock has trading in long sideways parallel channel. The stock has been following this channel since last more than 2 and half years.

Generally, stock forms bottom near lower end of channel and sellers take over bulls near higher end of channel line and drops the price lower.

Recently, stock witnessed strong run up finding support near lower end of channel line and in this process price gave breakout from the median line after consolidating near the same for couple of weeks.

The breakout has emerge with wide long green candle and supportive volumes which signals bulls force/strength.

The stock has been trading above 200 Exponential Moving average which hints strength in trend.

The Price-Volume indicator attached beneath, has reversed finding support near 0 reading which compliments bullish view in price. 

Following the price action and other indicators positioning, the stock price has potential to test higher range of the channel line & challenge its previous swing high. 

The above mentioned view holds true till price does not close below 122 levels while the strong support is visible around 136-131 levels.

Balrampurchini weekly chart
(Click to Enlarge) 

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Narayana Hrudayalaya : Heading to test Life time highs !!!

Narayana Hrudayalaya : Multi week consolidation breakout !!!

This stock has been listed recently and have trading records of approximately 4 years.

Post couple of months of listing, stock witnessed deep correction declining near 180 levels from all time high of around 380. After forming a low near 180, stock again gain upward momentum and challenged its previous highs.

However, price again witnessed sharp selling pressure from the previous supply zone and faced sharp decline and formed a low around 200 in a jiffy. 

In march 2020, stock printed a bottom around 200 and saw immediate rise towards 300 levels and from thereon price has been trading in narrow range.

Previous week, price managed to close above the resistance zone forming a bullish candle and hinting bulls likely to take leadership going forward.  

Price has been trading above short,medium and long term Moving Averages which signals strength in price. 

Also, price has given breakout from Squeeze Bollinger Band which hints price likely to extend its volatility in northward direction.

Moreover, the Price-volume indicator attached below, has entered into Positive Territory which compliments bullish view in price. 

Furthermore, Momentum oscillator (Second chart) has given bullish crossover after good amount of time which increases probability of breakout.

Looking at price action and positioning of other technical tools, i believe price has potential to challenge its previous life time high in coming weeks. The above mentioned bullish view terminates if price fails to produce upward momentum and closes below 275 levels. 

NH Weekly chart
(Click to enlarge)

NH Weekly chart
(Click to Enlarge)

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FDC : MULTI-YEAR BREAKOUT WITH VOLUMES

FDC LTD : BULLS MAKING THERE HOLD STRONGER !!

FDC Limited is a fully integrated research-oriented pharmaceutical company engaged in the manufacturing and marketing of Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs). FDC's formulation department designs and develops products for various global markets and the highly regulated markets of US and Europe.

The stock price of FDC Ltd is currently quoting around All time high zone which indicates strength in price.
Recently, the stock has registered decisive breakout from the overhead horizontal resistance line with formation of strong bullish candle which gives a hint of dominance of bulls over bears.
Moreover, the stock has been forming Higher Highs and Higher low post making a bottom in early 2019.
The highlighting point is the behaviour seen in volumes. The rise in Stock price has been backed by well supported volumes. With every rise in price, Volumes bars has got larger which indicates.participation by Big and strong player.
The stock had earlier made an attempt and witnessed breakout from similar zone but failed to hold on at higher levels and saw profit booking.
This can be considered a PERFECT SHAKEOUT EXAMPLE. Which defines weaker hands fading out of the stock and entry by Large players at lower levels which is bullish signal.
Also, momentum oscillator is complimenting bullish view on price.
Looking at price action and other evident this stock becomes a strong buy candidate for following months.
As per my analysis and understanding stock has more upside potential and every dips shall be utilised as buying opportunity.
The view holds true till price does not close below 265 levels.

FDC Weeky chart
(Click to Enlarge)

FDC Weekly chart
(Click to Enlarge)

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Disc. The above shared analysis is solely my view as per my understanding and knowledge and for educational purpose. I will not be responsible for any loss or gain incurred.