TTML & A B NUVO MONTHLY CHART

ADITYA BIRLA NUVO MONTHLY

TTML MONTHLY

  

  

WISHING YOU A VERY HAPPY & PROSPEROUS NEW YEAR.

 

TTML:

 

TTML is a telecom provider and this sector is known for all that can go wrong for the past couple of years. This stock has been trading @ Rs. 11.40 after being beaten down for the past 49 months. From the attached monthly chart, you will observe that this stock has been trading just above Rs. 10 for the past 3 months. More importantly, you will observe that it is now poised to cross the trend line when it starts trading above Rs. 12.30.

 

Considering that the other items of this sector (Bharati, Idea etc.)  are going up, it is just a matter of time when the trend line will be broken on the up side and the current market price provides a low risk opportunity to acquire this stock. On the way up, 15 -19 and 25 will provide resistance.

 

 

A B NUVO:

 

A B Nuvo is a diversified company from Aditya Birla Group. From the attached Monthly chart, you will observe that this Company has been trading in narrow range of Rs. 350 for the past 40 months. This Company has significant holding in IDEA Cellular.

 

With the price of Idea Cellular improving in the past few days, there is a good possibility that market price of this stock will finally break out of the upper range at 1050. Once this break out happens, we can expect the price to go up to 1400-1500 range.

 

Both the above stocks look good to buy at the Current Market price.

 

With Best Wishes,

 

Ketan Asher.

 

 

 



CENTURY TEX WEEKLY CHART

 

CENTURY TEX WEEKLY

 

 

 

 

 

 

 

 

On the attached weekly chart (Futures), you will observe  that this stock has been making higher top/higher bottm for the past 7 weeks and closed  last week at 391 after making a new 52 week high of 395.

 

My observations are as follows:

 

1.  Current market price (CMP) is close to the previous high of 391 and 397.

2. As shown on the attached chart, CMP  is close to the 50% level of 405.

3. At around 425 we have multiple  resistance of the trend line (in Blue) and Andrew's Pithfork

    Median Line (in Red).

 

In view of the above, 405-425 level could provide strong resistance. Hence, those holding long positions  will do well to trail the position  with stop loss of 380.

 

I must add here that stock will gain strength  when it manages to cross the median line (425) hence short position should be avoided or be held with tight stop loss of 425. Considering that the stock has made a new 52 week high, buy on corrections would be a better strategy.

 

With Best Wishes,

 

Ketan Asher.

13.10.2012



 

 

    DCB MONTHLY CHART

The attached monthly chart of Dev. Credit Bank, indicates that it is ready to break out of a triangle - once it trades above Rs. 44/= during Oct 2012. Considering that it is ready to break out, it would also be good idea to invest even  on declines with stop loss of Rs. 40/=.

 

On the way up, it will find resistance at 53 - 60 and 64. As indicated on the chart, 91 will be a strong resistance  area and triangle target, however that will take some weeks/months.

 

With Best Wishes,

 

Ketan Asher.