20% gains in Jubilant Foodworks

Had recommended Jubilant Foodworks on 18 Jan 17.
The stock has closed on 1056 on week ended 3 March 2017
The stock has gained 19.8% since then.

Below is the link of my post on 18 Jan 17
Click here to read old article

Here is that article reproduced for you.
Jubilant Foodworks - Low hanging fruit?

Monthly chart - trading near an attractive support

Nifty view for the week starting 27 Feb

If you go by last week's comment, I had said Nifty need to closed above 8960, which is previous high, for it to start new bull run. Nifty is still struggling to close beyond this point.
Detailed view with levels is available to our premium subscribers.

TCS- Changing the trend

Markets / Stocks runs in cycles-

For an early entry you need to identify a change in the cycle (trend). 

In this case TCS was so far trading in sideways trend. With a breakout in last 3-4 days there is an evidence that there is a probable change of trend in TCS. So the new trend is an uptrend.

TCS daily chart below-

Nifty - Trading with strength but deserves a rest

Most of the important events are past us. The good thing about these events was that they have let India VIX move hardly. This shows the maturity on part of market participants as well as on part of government. The Union Budget and RBI policy were instrumental in not creating hype of these events. They seem to be well focused on essentials as compared to their predecessors. Yes, I mean it.

Lets see how Nifty looks like on Technical charts. 

Below is the daily chart of Nifty. Notice the narrow channel in which Nifty is trading. This channel Nifty is trading at the stretched levels near higher end of the channel. Last 3 days repeated hanging men, however are suggesting that the bulls are exhausted for the time being. As a trader I would wi

sh to enter at the cheaper levels than this. The support areas below suggest that even if correction happens it may have a short living effect.

Below is the weekly chart of Nifty. That Hanging Man at the top is little worrisome. This hanging man is formed near the third top. Hence to neutralise this pattern Nifty need to convincingly close above 8968. Any close below 8973 in the coming week will add to the worries bulls. The supportive indicator is also overbought. Trading with caution should be the key for Bulls.

 

We provide Advisory Services starting just at Rs 3900/-

In case you are interested you can write us at sagar@bonvista.in or call us on 9371444875

Justdial - Head & Shoulder breakout

Justdial has been in down trend since Jan 2015. The stock has been continuously witnessing a fall and the stock is down by whooping 75%. This head and shoulder breakout can be a start of short term uptrend in the stock.

Ujjivan and ICICI Pru Life - Recent IPOs with an attractive proposition

Ujjivan  and ICICI Pru Life are the two IPOs launched in recent past. Both the stocks are looking lucrative now.

Lets go one by one:

Ujjivan has strongly surpassed its major resistance yesterday to close near 424. You can see on the chart below that that after posting high near 530 the stock has seen a healthy correction which took the stock to around 275. This was very near to its listing price of 230.

Here on we can expect the stock to continue the momentum.

ICICI Pru Life after its listing in Sep 2016, was trading in a broad range between 330 and 285. The stock has broken out of this range on 10th Jan. It then went up to post a new high of 363.50. The stock then went into a correction and tested its breakout level as shown on chart. We can expect the stock to continue to trade with same momentum.




Analysis and actual entry in a stock are two different things. While analysis gives you broader picture about the stock movement, the entry exit levels gives your more refined idea about the risk management. On this blog most of analysis of most of the ideas is given. If you are keen to know get the detailed recommendations like Entry level, Stoploss, Target and exposure for a particular script with regular followup on action to be taken, please subscribe to our paid services. We have kept the costing of services very low to make it easier for even the retail investors to participate in markets.
You can write us on sagar@bonvista.in or call us at 9371444875 to know more about subscription.

BHEL - Head & Shoulder breakout

Bhel was trading in a downtrend on daily chart since Sep 16. Stock was trying to get into a new cycle of higher top higher bottom from its existing downtrend. For short term, the current Head & Shoulder breakout can act as confirmation to this theory.

Petronet - Fresh Flag breakout

For about last 12 weeks this stocks was in consolidation phase. Consolidation is actually a period of contraction. We expect price to remain stagnant during contraction. Contraction periods are usually followed by expansion. Expansion means prices move in either direction. You can see below weekly chart of Petronet. A clear breakout of consolidation is an indication of start of expansion phase.

Divis Lab - grab the 50% discount offer

Divis Lab was trading near 1350 in Sep 16. The stock is available near 700 while writing this article. No one is willing to touch it even at this level. 

Lets try to understand whether Divis Lab is an attractive buy at this level.

Here is quarterly (Yes...one candle per quarter...though little long term, its worth discussing here) chart of Divis Lab

 

The stock is trading near a substantial support area. Biggies would want to buy at this level.

I am not saying the stock will start moving up right away from this level. The level might be tested couple of times. The stock may get into sideways trend for some time.

If you have patience and you are ready to wait for some ( a year or so) time there is an opportunity to earn 50% returns here.

Closer look:

If you look a little closer on the basis of daily and weekly chart, you will find that the chart structure is becoming flattish indicating slow and steady buying at current levels. The buying area is between 600 and 700. So may want to average between this price. 

You can look to book first profit near 900-930 and later near 1100-1150

Have your risk management in place and you have a nice trade ready to be served.

Weekly Chart:

Jubilant Foodworks - Low hanging fruit?

Monthly chart - trading near an attractive support

J K Paper - Ascending Triangle breakout

SAIL - change of cycle

Steel Authority of India, the steel giant, is seen in the process of changing its cycle from 'Lower Top Lower Bottom' to cycle of 'Higher Top Higher Bottom'

Trident - breaking to all time high

Both below are weekly charts to Trident. 

In first chart, larger picture exhibits the strength on chart.

A closer look in the second chart shows an ascending triangle breakout. 

What and how of Nifty before Budget

Larger Picture:
Here is larger picture of Nifty with the help of monthly chart. You can see that on monthly chart Nifty is taking repeated support on a trend line. This trend line traces back to March 2009. This trend line exhibits a strong support to Nifty in 8000-7900 range. On the monthly chart, last month Nifty has formed a bullish hammer. As a follow-up to this monthly hammer, Nifty is in process of creating a bullish green candle. This bullish green candle is yet to form completely. Larger trend is up.
There is a resistance to Nifty in 8500-8590 area. On this larger time frame Nifty is still not in the region which can be called as over bought. We can expect the uptrend to continue. Correction is a part of an uptrend and is also healthy for uptrend. One such correction can not be denied once Nifty reached its resistance.
Monthly chart:

Closer Picture:

Nifty on its Weekly chart is still not giving us symptoms which is an indication of a downside correction. However some pressure is seen, if you carefully observe daily chart, Nifty is trading in overbought zone and also has its resistance nearby. Major event of budget is schedules on 1 Feb. This event can have large impact on Nifty. Technically a fall in Nifty to its support near 8250 will be an opportunity to add to the positions, as the larger picture remains positive. 

Markets usually trades nervous before important event and takes the direction on the day of the event.

The arrows on weekly chart below exhibits important areas.

A picture still closer:

On daily chart one can see that Nifty has started experiencing some pressure. Nifty is also trading in overbought zone and has negative divergence. This is an indication of a correction. However the correction may not be substantial looking at the positive picture on larger time frame. However this is definitely not the time to go long. Wait patiently for the markets to correct and then enter. If you have profits in existing positions, current time may be the right time to book it. For me 8506 and 8255 are crucial levels. 

At Bonvista Equity Research we believe in simple ideas to make money in stocks. Right analysis with good money management and risk management is the key to earn profits in markets. To have look at our Premium Service visit our website Bonvista Equity Research.

NTPC - Breaking all recent hurdles

Zoomed Image on weekly scale

Larger Picture on weekly scale

Tata Communucation - Ready for a Flag Breakout

Tata Communication is trading in broad range since begining of November. An ascending triangle on weekly scale is formed with this 2 month long consolidation. Observe the activity in volumes this week. Possibility of a breakout?

Fortis - Rectangle breakout

Fortis is breaking out of 10 months long rectangle. Here is weekly chart of Fortis, though the weekly candle is not closed as the week is yet to complete. We can anticipate that it will close with the nice breakout.

ACC - a double top and now a double bottom

ACC monthly chart below. Looks attractive specially because of low risk.

SRF - obeying the support

SRF Weekly chart. This is a classic pattern. A rectangle breakout is being tested. Expect a rise in demand here.

Havells - On a bouncing spree after a nice Correction

Ready to spell a new move after a nice correction. Weekly time frame.

Asian Paints - not yet late

This post can also be treated as a followup post to my earlier post - 

5 hot stocks & their levels- to 'enter' during correction

Asian Paint is one of the stocks I had recommended at that time. Check its recent reaction on the chart below. 

Sriram Transport Finance - Buy Cheap

 At current levels Sriram Transport Finance is available at a discount of a 40%.
Strong support area and price till next price hurdle has lot to offer. Weekly time frame here.

Ajanta Pharma - Time to grab

This post can also be treated as a followup post to my earlier post - 

5 hot stocks & their levels- to 'enter' during correction

Ajanta Pharma is one of the stocks I had recommended at that time. Check its recent reaction on the chart below. 

Havells - beginning of trend change

Cerebraint - A breakout