ONGC

The ongc is forming descending triangle formation. There is resistance posed by the three simple moving averages say 20, 50 and 100 day. This resistance is pretty difficult to break. The support are due to 200 day simple moving average at 1240.84 and the another resistance level at 1204.69. The MACD is trading below the zero line and has crossed below the signal line. RSI is also sloping down and trading at43.74. The -DI has crossed below +DI and ADX is at 30.42 . All these indicators shows that the stock may go down further. The up side is limited than the down side.

The market cap of the stock is 275700.67 cr.The PE Ratio of the stock is 17.38 and that of industry is 16.72. The EPS(TTM) of the stock is 74.24. The yearly financial results ending Mar 2010 and quarterly financial results ending September 2010 are satisfactory.

Recommendation: If stock goes below the level of 1204.69 with volumes then one can short this stock for a target of 1137 with a stop loss of 1180.

Bhushan steels

Click to enlarge the image.

The above chart is shown after adjusting the stock split.

After taking support at 20 day and 100 day simple moving average, the stock has started to rise . The only minor resistance is due to 50 day simple moving average. Once this resistance is crossed it will have next resistance at the level of 540 which will be its target in short term.The MACD has crossed above the signal line. The RSI is rising. +DI will soon cross -DI above.There are some bullish and some bearish sign but the overall picture is in favor of buy.

The market cap of the stock is 10293.01.The PE Ratio of the stock is 11.03 and that of industry is 11.78. The EPS(TTM) of the stock is 43.94. The yearly financial results ending Mar 2010 and quarterly financial results ending September 2010 are good only EPS is decreased.

Recommendation: One can buy this stock for a target of 540 and with a stop loss of 452. The closing price on 31-12-2010 was 473.90.

LIC Housing Finance

Click image to enlarge.

The above chart is shown after adjusting the stock split.

The stock has taken the support at a level of 165. The stock price is above the 20 day simple moving average. The MACD has crossed above the signal line. The RSI is rising. +DI will soon cross -DI above.There are some bullish and some bearish sign but the overall picture is in favor of buy.

The market cap of the stock is 9315.26 .The PE Ratio of the stock is 2.29 and that of industry is 31.65. The EPS(TTM) of the stock is 85.67. The yearly financial results ending Mar 2010 and quarterly financial results ending September 2010 are good.

Recommendation: One can buy this stock for a target 219 of and with a stop loss of 185. The closing price on 31-12-2010 was 195.40. Once the first target is met, the other targets are 228.19 and 244.58.

YESBANK

The YESBANK is having support at 20 day simple moving average and 200 day simple moving average at 304.10. The MACD has crossed above the signal line and trading at -5.69. The RSI is rising and trading at 47.11. The +DI has crossed above the -DI. All this indicate early buy signal. The combined resistance posed by 50 day and 100 day simple moving average at 330.81.

The market cap of the stock is 10795.97 .The PE Ratio of the stock is 18.03 and that of industry is 28.80. The EPS of the stock is 17.34.

Recommendation Closing price on 30-12-2010 is 312.70. One can trade in this stock for a target of 330.81 and a stop loss of 304.10 for short term.

BSE Mid Cap Index-MIDCAP

The BSE Mid Cap index, MIDCAP has broken through the resistance of 7669.64 and trading above 200 day simple moving average. It has started to rise after a correcton. The MACD has crossed above the signal line but still is below the zero line. The RSI is also rising and is at 48.13. The +DI has crossed -DI in above direction, all these are bullish signs. The only major combined resistance posed by 50 and 100 day simple moving average is at 8041.04. From level 7669.64 to 8041.04 i.e. 4.84%, there is no resistance, One can trade safely in this period in selective mid cap stocks. After this level is broken then the bulls will be in dominance.

BSE Small Cap Index-SMLCAP

After a correction, the small cap index has started to rise. The MACD has crossed the signal line above but still trading below zero line. The RSI has started to rise and now at a level of 48.73. The index is currently above 200 day moving average. The only major combind resistance posed by 50 day moving average and 100 day moving average is at 10,096.97. It is safe to trade in selective small cap stocks for a upside of about 6% in short term.   

Happy New Year

This is the afl to wish you happy new year.

_SECTION_BEGIN("New Year");
for( i = 1; i < BarCount; i++ )
z = (GetPerformanceCounter()/100)%30;
y = (GetPerformanceCounter()/100)%255;
Col=ColorHSB( ( i + y ) % 256, 255, 255 );
x=Cum(1);L1=LastValue(x);
F=StochD()+30*sin(Cum(1/5))+20*sin(10*Cum(1/10));
RequestTimedRefresh(1);
Plot(F,"",Col+z,styleNoLine+styleNoLabel);
PlotShapes(shapeStar*(F>95)*(X>L1-180),1+(x%35)+z);
PlotShapes(shapeHollowStar*(F<30>10)*(X>L1-180),Col);
y0=20;y1=60;y=0.5*(y0+y1);Plot(0,"",1,styleNoLine+ styleNoLabel);
Plot(y0+y1,"",3,styleNoLine+styleNoLabel);
n=4;d0=140;dd=10;

d=d0;Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d-1],y[L1-d-1],x[L1-d-1+5],y[L1-d-1+4],0),"",3,1);
d1=d-n;Plot(LineArray(x[L1-d1],y0[d1],x[L1-d1+1],y1[d1],0),"",3,1);

d=d0-dd;Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d-1],y[L1-d-1],x[L1-d-1+5],y[L1-d-1+4],0),"",3,1);
Plot(LineArray(x[L1-d-1+1],y1[L1-d-1],x[L1-d-1+5+1],y1[L1-d-
1+4],0),"",3,1);
d1=d-n;Plot(LineArray(x[L1-d1],y0[d1],x[L1-d1+1],y1[d1],0),"",3,1);

d=d-dd;Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d-1],y[L1-d-1],x[L1-d-1+5],y[L1-d-1+4],0),"",3,1);
Plot(LineArray(x[L1-d-1+1],y1[L1-d-1],x[L1-d-1+5+1],y1[L1-d-
1+4],0),"",3,1);
d1=d-n;Plot(LineArray(x[L1-d1],y[d1],x[L1-d1+1],y1[d1],0),"",3,1);

d=d-dd;Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d-1],y[L1-d-1],x[L1-d-1+5],y[L1-d-1+4],0),"",3,1);
Plot(LineArray(x[L1-d-1+1],y1[L1-d-1],x[L1-d-1+5+1],y1[L1-d-
1+4],0),"",3,1);
d1=d-n;Plot(LineArray(x[L1-d1],y[d1],x[L1-d1+1],y1[d1],0),"",3,1);

d=d-dd;Plot(LineArray(x[L1-d],y0[d],x[L1-d+3],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d],y1[d],x[L1-d+1],y[d],0),"",3,1);

d=d-2*dd;Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);
d1=d-n;Plot(LineArray(x[L1-d1],y0[d1],x[L1-d1+1],y1[d1],0),"",3,1);
Plot(LineArray(x[L1-d+1],y1[d],x[L1-d+4],y0[d],0),"",3,1);

d=d-dd;Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d-1],y[L1-d-1],x[L1-d-1+5],y[L1-d-1+4],0),"",3,1);
Plot(LineArray(x[L1-d-1+1],y1[L1-d-1],x[L1-d-1+5+1],y1[L1-d-
1+4],0),"",3,1);
Plot(LineArray(x[L1-d-1+1],y0[L1-d-1],x[L1-d-1+5+1],y0[L1-d-
1+4],0),"",3,1);

d=d-dd;Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d],y0[L1-d-1],x[L1-d-1+4],y[L1-d-1+3],0),"",3,1);
d1=d-n+1;Plot(LineArray(x[L1-d1],y[d1],x[L1-d1+2],y0
[d1],0),"",3,1);d=d-5;
Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);

d=d-dd;Plot(LineArray(x[L1-d],y0[d],x[L1-d+3],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d],y1[d],x[L1-d+1],y[d],0),"",3,1);

d=d-7;Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d-1],y[L1-d-1],x[L1-d-1+5],y[L1-d-1+4],0),"",3,1);
Plot(LineArray(x[L1-d-1+1],y1[L1-d-1],x[L1-d-1+5+1],y1[L1-d-
1+4],0),"",3,1);
Plot(LineArray(x[L1-d-1+1],y0[L1-d-1],x[L1-d-1+5+1],y0[L1-d-
1+4],0),"",3,1);

d=d-dd;Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d-1],y[L1-d-1],x[L1-d-1+5],y[L1-d-1+4],0),"",3,1);
Plot(LineArray(x[L1-d-1+1],y1[L1-d-1],x[L1-d-1+5+1],y1[L1-d-
1+4],0),"",3,1);
d1=d-n;Plot(LineArray(x[L1-d1],y0[d1],x[L1-d1+1],y1[d1],0),"",3,1);

d=d-dd;Plot(LineArray(x[L1-d],y0[d],x[L1-d+1],y1[d],0),"",3,1);
Plot(LineArray(x[L1-d-1],y[L1-d-1],x[L1-d-1+5],y[L1-d-1+4],0),"",3,1);
Plot(LineArray(x[L1-d-1+1],y1[L1-d-1],x[L1-d-1+5+1],y1[L1-d-
1+4],0),"",3,1);
d1=d-n;Plot(LineArray(x[L1-d1],y[d1],x[L1-d1+1],y1[d1],0),"",3,1);
Plot(LineArray(x[L1-d],y[d],x[L1-d+5],y0[d],0),"",3,1);
Title="HAPPY NEW YEAR 2011";
_SECTION_END();