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30 March 2011

Axis Bank Ltd.

 The market cap of axis bank is 58385.78 Cr., the EPS(TTM) is 76.32, the P/E ratio is 18.65 and that of industry is 29.16.

Weekly Chart


Weekly chart of Axis Bank Ltd. shows that after correction and conolidation for some weeks the price has started to move up.The support is at a level of 1376.65. The resistance are at a level of 1455.12 and 1569.41. The MACD has crossed above the signal line and MACD histogram is rising. The RSI is rising and above the 50%. The Stochastic is near the 80% level, the overbought region, the stock may correct near the level of 1455.12.

Daily Chart


Daily chart of Axis Bank ltd. shows that it has given a break out from the level of 1376.65.The stock is trading above all the moving averages of 20,50,100 and 200 day. MACD has crossed above the signal line and is above the zero line, the RSI is near the 70% level, Stochastic is above the 80%,the near resistance level is at 1455.12,near this level the stock can correct or consolidate.

Recommendation: One can buy this stock at a level of 1455.12 for a target of 1569.41 with a stop loss of 3 to 5%.

28 March 2011

BAJAJ AUTO LTD.

Weekly Chart

 
Weekly Chart of Bajaj Auto Ltd. shows that it is about to enter into up move, there is resistance at the level of 1429.34. The volumes are decreasing but the stock has crossed the resistance caused by 20 day simple moving average. The MACD has crossed above the the signal line, the slope of the histogram is positive.The RSI is near the 50% level.The Stochastic is above the 50% level.All this indicates bullishness in the stock.

Daily Chart


Daily Chart of Bajaj Auto Ltd. shows that there is resistances at a level of 1429.34, once it is crossed then the next resistance for the stock is at 1540.88. The volume in the stock is rising since last few days and the the closing price is also rising every day which shows the returning faith in the stock.The MACD has crossed the signal line above and the slope of histogram is rising. RSI is above the 50% and stochastic %D has crossed above the Smoothed %D near the 20% level giving the buy signal.

Recomendation: One can buy the stock near the level of 1429 for the target of 1540 keeping a stop loss of 3 to 5% according to one's risk appetite.

22 March 2011

ACC LIMITED

The ACC Ltd. has resistance at the level of 1021 posed by the 100 day simple moving average and support at 1000 by the 20 and 50 day simple moving average. Both the RSI and slow stochastic are in the overbought region and has started to inch down singling the minor correction or side ways movements for a short term.  

19 March 2011

NIFTY

The nifty is moving in the range of 5200 to 5600. It is trading blow all the moving averages of 20,50,100 and 200 simple day moving averages. MACD is trading blow the zero line and MACD has crossed the signal line downward indicating sell signal. RSI(14) has changed it's direction downward. The Stochastic is also in the downward direction towards 50% level. All this shows that the Nifty will move towards 5200 psychological level, once this level is breached the next level will be 4830.