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Stock of Day | Portfolio Yoga - Part 7

Tag: Stock of Day

Stock of the Day – Sesa Sterlite

Sesa Sterlite, the company that emerged out of the merger of Sterlite into Sesa Goa has been on a bearish trend from quite some time now though it now seems to have consolidated and started to move higher.

On the daily chart below, we can see that the stock has formed an ascending triangle and though today’s breakout is now showing much promise, the next time we were to break and close above today’s high (213), we should see a strong rally on the cards with the next level of resistance coming in at around 250 levels.

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Stock of the Day – HPCL

PSU stocks rarely come in the limelight as the volatility of most listed PSU stocks is pretty low and the performance being sub-par, there is not much of an activity in many stocks. But the recent dividend stripping from Coal India seems to have infused some fresh impetus to many and one of the stocks that caught my eye is HPCL.

HPCL after making a low in August 2013 has been slowly inching up though its yet to break any crucial resistance levels. The stock is currently placed just below its 200 day EMA as well as its major resistance level of 240. While the stock is currently moving in a channel formation, any strong move would ideally break the pattern giving us a clear target based on the same.

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Stock of the day – Infinite Computers

The strong run which is being accompanied with good results among the top IT companies seem to be percolating to other IT stocks as well. Today was the case of Infinite Computers which shot up with massive volumes. While the stock is still not above major resistances, a move of this magnitude can be seen as one of a reversal in the medium to long term trend.

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Stock of the Day – Esdee Alluminium

While the name of the company seems to suggest it being part of the Metal sector, the performance of the stock has anything but been about Metals. The historical chart of the stock shows significant volatility and movement on both sides with dips being nothing less than a sharp fall and rises equally sharp too. 

Currently the stock has just broken out of a Ascending Triangle with the pattern suggesting possibility of a move towards the 800 levels which is the minimum target with the maximum target of the same pattern coming in at 925

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Stock of Day – SKS Micro

SKS Micro has been moving in a rising channel for quite some time and in the last couple of days had broken and closed below the same though there was not much of volume confirmation for one to go short in the stock (which would not have been possible owing to stock not being in F&O). Today though was another day as the stock rose strongly taking out the losses of the whole of last week in one grueling session. Volumes were 6x the 10 day average and delivery volumes were pretty high too. Both of these data points along with a reading of the charts seem to suggest a entry by a strong hand. Would we see the test of the upper channel is the question that needs to be answered though 🙂

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Stock of the Day – Heritage Foods

Heritage Foods is one of the few listed stocks exclusively focused on dairy though in recent times they have ventured into food and grocery retailing under the brand “Heritage Fresh” as well. The stock saw a major re-rating in mid June 2012 when it started to move higher and tripled in price by the end of 2012. 2013 was a year of consolidation for the stock as it slid down in a broad channel formation. January has been a good follow up month after the rise we saw in December and with today’s rise, we are once again testing the upper trend line of the channel. 

A break-out above the channel can provide for a move of at least 75 rupees which is the width of the channel though a reversal here may see it go back to its support level of 200 EMA at the very least.

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Stock of the day – Jindal Saw

Jindal Saw like many other metal counters has been facing rough weather for a pretty long period now. After topping out in late 2010 at 235, the stock had lost nearly 85% of its value when it bottomed out in August 2013. The stock had been more or range bound till this month when in line with the moves seen in many mid and small cap stocks, Jindal Saw too has appreciated by around 22% till date.

Today’s close is just below its 200 day EMA which would be the first barrier to cross. As the chart below shows, this is just the first in a series of hurdles it has to cross before we can say its clearly out of the woods (Bearish to Bullish phase change).

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