Technical Analysis Charts – Stock Ideas

This entry is part 2 of 2 in the series Technical Analysis - Stock Charts


Technical Analysis Charts – Weekend Reading 2

Adding the next set of charts analysed over the weekend. The intent is to educate new investors/traders on how to use technical indicators and read charts. Here are few charts which I analysed technically today:

1) ITC (CMP: Rs 305.75)

ITC looks bullish with the conversion of multiyear trendlines. High chances that it will give a good up move of 5-6%.

ITC Chart

                                                ITC Chart- Technical Analysis

2) Ashok Leyland (CMP: Rs 95.65)

Ashok Leyland has formed a double bottom and now looks set for a target of 105. Stoploss would be 90 Rs.

Ashok Leyland Chart

                                                  Ashok Leyland Chart

3) BEPL (CMP: Rs 80.85)

BEPL has given a breakout with high volumes. With ABS production expansion to 137 KT having completed, the quarterly results should be good.

BEPL Chart

                                                                 BEPL Chart

4) HDFC (CMP: Rs 2024)

HDFC has bounced off from a good support level and can test the all time high. The stoploss should be taken as 1980 Rs.

HDFC Chart

                                                          HDFC Chart

5) HUL (CMP: Rs 1721.65)

HUL has formed a W pattern on the bollinger band after a downward trend. The RSI and MACD look bullish and the stock has moved above the 50 DMA. 1700 should be taken as the stoploss.

HUL Chart

                                                               HUL Chart

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Disclaimer: I am not a SEBI registered analyst and not advising anyone to buy. The purpose of this article is to share my viewpoint about fundamentals and the future prospects of the company. So, please do not consider this as an investment tip. Talk to your financial advisor before taking any investing call.

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