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Tuesday, January 8, 2013

Your Questions on Den, VIP, Central Bank, Marg, Suven, Prakash Ind, Aban and Others and Our Answers!

Question: Please advice I am looking forward to buy the followings scrips @ current levels:

Punjab & Sindh Bank
DEN Network
VIP
Central Bank
Delta Corp

Answer:

Technical analysis of below scrips is as below:

Punjab & Sind bank
Technically speaking, Punjab & Sind bank has formed a good consolidation pattern at 58, and formed a solid bottom at this level.

63 is a good support for PSB, and so is 74. 74 can be kept as a SL if you buy at current levels.

85 and 95 form the next set of resistance levels, so you can do profit booking at these levels.

DEN Network

Den Networks has already run up pretty high and is showing exhaustion at these levels. 208 and 223 can be nearby resistance levels.

Since scrip is getting rejected at 208 repeatedly and is forming a double top kind of pattern with divergence, it is not recommended to buy Den at current levels. It can correct from here and see levels of 170 and possibly 148 where it has support.

VIP

VIP is consolidating from past one year or so. It has support at 69, and at 75.

It is seeing rejection from 89 levels, so it is slightly difficult to cross this level presently. Once 89 is crossed, it can see 98, 109 and 126 respectively.

Buy only when it closes above 89.

Central Bank

Central bank has good support at 62 and 68. It is currently trading at 95, where it might face resistance levels and might correct. However, it is showing strength and may cross this level and aim for higher levels of 110 and 136.

Level between 95 and 110 might take long time to consolidate and close.

Delta Corp

Charts for Delta Corp is not showing strength. It is showing double top kind of pattern at 84 with RSI divergence and has support at levels of 71 and 65 respectively.

It might reach 88 after some consolidation, but post that next target of 115 is far off and difficult to reach.


Question I want to purchase shares of Shiv-vani oil & gas exp.
It is trading it's two year lower price, & as per my knowledge it's fundamental is very nice.
EPS IS 21, PE IS 4.85, DIVIDEND Yield IS 1.
It is advisable or not?. want to know your valuable advice for this stock.

Answer: Technically speaking, Shiv-Vani has support at 86 levels. You can wait till 86 to buy into this scrip. It would go into a lengthy consolidation phase once it reaches 86, as after a severe fall 500 odd levels, this consolidation is expected. So no immediate gains can be seen.

Next set of expected levels are 165 and 200, but it might take some time.

Question: Can you please share your views on following stocks. I have these stocks since two or three years and waiting for going up.

1. Prakash Industries (1000 @ avg price of 119)

2. Aban offshore (110 @ avg price of 5

Answer:

Prakash Industries reached a super low of 26, which was very painful low level for a decent scrip like this. Now scrip is seeing consolidation between 40 and 65 from past one year.

Once this range of 40-65 is broken, resistance is expected at levels such as 75, 95 and 130. 130 should be achievable in next one year or so.

Aban has tremendous double bottom at 325, which was a good place to average your stocks. Now the next set of support levels is at 370. 425 is key resistance level, once crossed scrip might see good movement.

Next resistance is 485, crossing which there is resistance at 525 and 570. You can book profit at these higher levels.

Question I have recently bought PRAJ INDUSTRIES at Rs.49/- and SUVEN LIFE at Rs.32/-. Please give me your views on short to medium term prospects for the two companies.

Answer: Praj at 49 is a very good buy. There is strong support at 45 levels, and hence this is a low risk entry.

Nearby resistance levels are at 64, so that is expected in few weeks. 64-88 is a severe congestion zone, so it would take considerable time to reach 88.

Partial Profit booking can be done at 64 and 88 respectively.

Suven is reaching its resistance levels so be very careful and agile. It is already creating double top and RSI divergence kind of structure. Once 35 is crossed, 65 can be seen, but looks difficult at this stage.

Question: Kindly suggest about MARG - Marg Ltd trading about 51-52

At this level, whether stock can be accumulated. or at what level ???

Answer: Marg has seen severe correction, however at current levels it is a low risk accumulation.

This is because Stoploss is nearby at Rs 48. Once 48 is breached, you can exit.

Partial profit booking can be done at levels such as 57, 63 and 74 respectively.

Question: Request to analyse Tecpro systems and advise for investment

Answer; Tecpro is a low risk entry currently as the Stoploss is nearby at 145. Once 145 is broken, you can exit.

Immediate short term Target can be 173, however crossing 173 would be slightly difficult.

Once 173 is breached, you can see levels close to 205 as well.

4 comments:

  1. Hi, I am holding kaveri seeds , l&TFH , Jubilant foodworks , Rallis india , lovable lingerie , Gujrat fluorochem , MCX , BATA , amara raja , Lic housing finance , Reliance capital , shree ganesh jewellary , PC jewllers etc. in my portfolio. Can you please provide your valuable comments on my scrips if you think any of the scrip is not worthy to buy. I am having a loss only in lovable lingerie & gujrat fluorochemicals (purchased at v high valuations ).....Please let me know if any of these scrips needs to be removed from my portfolio....besides these two stocks i had an annual return of near about 46% but these two brought it to 23%....please provide your suggestions

    ReplyDelete
    Replies
    1. Reliance Capital looks dark horse.

      Delete
  2. Hi Naren,
    In some of your old post you talked about covering Phillip Carbon. Did you get chance to look into that . I find that company quite attractive and want to invest for long term. Your view will help me in deciding.

    Thanks in advance

    ReplyDelete
    Replies
    1. Responded here:
      http://www.stockfundoo.com/2013/01/your-questions-on-l-educomp-phillips.html

      Delete

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