Tata Elxsi had recently seen a multi year break out and the same has now been re-tested giving credence to the validity of the breakout. Volumes in the current run-up has been strong indicating the possibility of strong hands getting into the stock.
Tag: Stock of Day
Stock of the Day – Maruti
After the strong fall we saw yesterday in Maruti on the back of news of Suzuki setting up a 100% owned plant which inturn shall supply cars to Maruti, we saw the stock bounce back today though not one of equal measure. But while the bounce was not able to fully recapture the damage seen in yesterday’s trading, the volumes were something that has to be noted.
Delivered volumes were huge today, the kind of volumes we had not seen in a long time. The last time we saw similar delivery volumes was way back in July 2012. On the weekly chart below, we can see that the stock is moving in a pattern called as the “Widening Wedge”. Of course, since both trend-lines have seen only two touches, the confidence factor is not very high in the outcome such a pattern bring forth.
Stock of the Day – Just Dial
After months of nearly continuous upswing, Just Dial has just seen the first serious bout of profit booking / reaction or whatever term that is used for such reactions these days. As the chart below shows, the stock tested its lower trend-line support and while it can be seen as a support, bigger support arises in the range of 1040 – 1090. Since the fall has not been accompanied by rising volumes, at the moment we can discount the possibility of this being a distribution.
Stock of the day – Talwalkars Better Value Fitness
Most Gyms offer “Weight reduction Programs”. For the shareholders of “Talwalkars Better Value Fitness” though, the company has in addition offered a “Money Reduction Program” as can be seen in the continuous deterioration of price of the stock since it made its high in late 2010
Stock of the day – KPIT Technologies
KPIT like most other IT stocks has had a tremendous run in the last few years. 2014 though seems to have halted that rise as the stock has seen a strong decline in the last week and this week. This has resulted in it breaking a long term trend-line support as well and one needs to see how the stock performs at its major support zones before one can confirm as to whether this is just a storm in a tea cup or is it something much more serious.
Stock of the Day – Dewan Housing Finance
For quite some time, Dewan Housing Finance had been one of the laggards among housing finance companies. But since October, the trend has started to change quite substantially to the bullish side and with today’s move, the stock has broken out of the recent pivot high as well.
Stock of the Day – Prestige Estate
While much of the real estate sector stocks remain in doldrums, some stocks are showing bullishness though its no walk in the park either. Prestige is showing clear signs of bullishness with the daily chart showing higher high and higher low. The stock is also trading above the 200 day EMA though the amount of times it has broken this level makes the level a suspect.
