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CENTURY PLY – Poised to move higher?Almost six months of consolidation. Now moved out of the consolidation zone with volume support. The Relative strength is turning positive. Money flow and buying pressure is also positive adding to the strength. Increased delivery-based buying is also seen. Interestingly, in the weekly TF we can see a nice volatility contraction pattern, making the probability of up move higher. However, 744 is a last point of supply on the weekly TF. Once the stock moves above 744 it will move much higher. The probability of that happening is quite High. A stock to track.
NSE:CENTURYPLYLong
by karthikmarar
RADICO - Update Early November we saw that that the stock was recovering and at 1284 levels, we anticipated that the stock will test 1450 levels. Now that stock has tested 1450 levels and also crossed the Price Rejection zone and the last point of supply of 1475 as well. The stock looks poised to move higher. Relative strength, Buying pressure and Money flow all are positive and rising. But we need to see more supply. If volume comes in the next of couple of Bars the stock will move much higher.
NSE:RADICOLong
by karthikmarar
JUBILANT FOOD The stock was recovering from a big down move. Then it encountered a BC bar. It took more than three months to come out of the supply shadow of the BC bar. Now it has succeeded to come out of the supply shadow and cleared the last point of supply as well. This accumulation of three month has given enough strength to the stock to move up further. All key supporting parameters like Relative strength, buying pressure and Money flow are positive. A loo at the delivery volumes also indicates committed buyers accumulating the stock. Chances of the stock testing the supply zone cannot be ruled out. Anyway, the stock is poised to move higher. In the weekly chart as well the stock is making Higher Highs and Higher lows. The next target is likely to be 650
NSE:JUBLFOODLong
by karthikmarar
MRPL - A stock to WatchThe stock up move was stopped by a "BC" bar. Then the stock was push down to the 50 DMA. Taking support from there the stock started to recover. Now seems to succeed in crossing above the the supply shadow of the "BC" bar in the second attempt. Money Flow and Buying Pressure were already positive . The Relative strength is also turning positive. A good close above 122 with volume support will take the stock to the next lap of the up Move up. A stock to watch.
NSE:MRPLLong
by karthikmarar
BHEL - Ready for the next lapWe have been following this stock from 83 levels in July when it formed a nice VCP pattern and was ready to move up. Then after a encountering a “BC” bar the stock was stuck inside the supply shadow of the “BC” Bar. After some consolidation and a “spring’ the stock started to recover. Now it has come out of the shadow of the “BC” bar and has crossed above the previous Rejection zone with good volume support. All key parameters like Relative Strength, Buying pressure and Money Flow are positive. Now the stocks is ready to go to the next lap of the up move.
NSE:BHELLong
by karthikmarar
L_TFH - A stock to WatchA stock to watch. In the month of July when we encountered a BC bar, We did expect that the stock will face supply and struggle to move up. The stock did face lot of supply within the "Shadow of the BC bar". After getting pushed below the 50 DMA the stock was on the recovery move. Finally it is attempting to move past the shadow of the "BC" bar. Relative strength and buying pressure remains positive. However the volume and money flow is still lacking. A good move past with volume support will propel the stock into a higher trajectory. Also look at the below chart as well
NSE:LTFLong
by karthikmarar
1
CARBORUNDUM UNIVERSAL - A simple AnalysisOn the chart this looks like a good bounce from the support area and 50 EMA. Look at the candles in the down move. As move proceeded the candle sizes reduced indicating that the momentum was reducing. last candle in the down move was a small spread bar with high volume. This candle is a clear indication the Demand was taking control. The next bar is a bullish one with the long wick, wide spread and closing up. Clear indication that the bulls have taken control. Also, the delivery volumes give a clear indication of Accumulation. The chart indicates a good pull back trading opportunity with a good Risk Reward Ratio.
NSE:CARBORUNIVLong
by karthikmarar
VARUN BEVERAGES - A Stock to WatchThe stock retreated after facing supply. After some consolidation the stock is again negotiating the previous supply area. Volume support is also coming in. Delivery volume also increased indicating interested longer term buyers. Relative strength, Money Flow and absolute strength all in the green. A good close above 873 with volume support will put the stock back in upward trajectory. However the overall Market which is seeing some weakness may play spoil sport. Still a stock watch.
NSE:VBLLong
by karthikmarar
2