Reliance Industries - Bullish Pattern Seen

 Daily Chart

·      Reliance Industries after forming a base near 820, which is a long term support now has broken above inverse H & S pattern above 910

·         The counter also confirming with higher volumes in the prevailing trend

·         The RSI pattern also indicating the strength in the stock as shown in daily charts

·     Thus stock can be accumulated on any dips around 905 – 915 with stop loss of 884 for targets of 948/985+

Raju V Angadi

Equity Research Analyst

To Learn simplified objective approach applying Advanced concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense & optimize your investment / trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

Note: This report is for educational purpose and the specific levels have not been mentioned. 

NIFTY Outlook for coming Week & Month Ahead

Daily Chart

• NIFTY again breaking all time high of 8626 and closing positive for the week around 8835 after making a high of 8866 
• The F & O expiry can be volatile week ahead with key events Greece Elections awaited
• NIFTY in expanding triangle on daily charts nearing short term channel resistance zone around 8870  – 8920
• The trend still remains bullish on the positive stage 8640 monthly support and trend decider level remains 8370 
• Thus any dips can be bought into for next month ahead of budget for pre-budget rally can be expected with potential targets of 9300/ 9460 - 9520 with stop loss below 8350 stop loss
• The power stocks in focus and other budget oriented stocks can performing in coming months ahead as $250 billion investment for power sector to come in as narrated by Mr. Piyush Goel (Power Minister)  during Davos meet in Switzerland
• The Nuclear deal & $400Cr loan to India and support for ‘Make in India’ boost by US president Obama on Republic day can lead up move in power equipment and power stocks further
• Also money flow to Indian Equities to continue as Europe starting QE of 600 Billion every month till September of 2016
• India being in a sweet spot and technically in Super Cycle Wave III 

Raju V Angadi

Equity Research Analyst

To Learn simplified objective approach applying Advanced concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense & optimize your investment / trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

Note: This report is for educational purpose and the specific levels have not been mentioned. 

GHCL - Techno Funda Outlook

                                              
                                                                Chart 1: Weekly Chart

 

·         GHCL has corrected in the zigzag pattern in the wave 4 of primary degree Chart 1.

·         The stock has formed an inverted hammer on daily charts indicating the arrest of downtrend.

·         The RSI holding the threshold support and looks likely for a reversal

·      Thus counter can be accumulated around CMP (72.50) up to 70 with 65 as stop loss for targets of 115 above 140 

Fundamental View

·         The stock is trading at a book value of 85.

·         The stock is trading at P/E of 4.71 to industry P/E of 17.07.

·         FII doubled their stake in the company from Jun 14 (7.52) to Sept 14 (15.13).

·     With a market capitalization of 730 odd Cr, the company on an average is marking 30Cr profits per quarter.

·         The 120Cr profits per annum stock can be a good candidate for re-rating.

Raju V Angadi

Equity Research Analyst

To Learn simplified objective approach applying Advanced concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense & optimize your investment / trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

Note: This report is for educational purpose and the specific levels have not been mentioned. 

Can Percious metals (Gold & Silver) regain some charm in 2015 ?

GOLD

                                                                                                                             Daily Chart

•  Gold has been in a corrective move down from INR 34000 has tested levels of INR 24000 odd levels in 2014
• Can the shine in Yellow Metal regain back in 2015 is the question?
• Yes. Looks likely as charts suggest, Gold can regain bit of charm in near term.
•  As it has formed bullish H & S pattern and broken out with good volumes as shown in daily  charts
• Also Gold trading above 13 – DMA confirming strength in near term trend

SILVER

Daily Chart

• Silver after making a top around 65723 INR has been in a bear market for almost 28 months shaving off almost 50% in value making a low of 32623 INR level
•  As yellow metal, can white metal regain some charm in 2015 after a sustained bull market?
• Silver first time after more than two years has formed higher top and higher bottom breaking out of a bullish triangular on daily charts

Raju V Angadi

Equity Research Analyst

To Learn simplified objective approach applying Advanced concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense & optimize your investment / trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

Note: This report is for educational purpose and the specific levels have not been mentioned.