GREENPLY (CMP:234) - GREEN MOVES AHEAD

RECOMMENDATION - BUY AT CMP OF 234

TARGET - 295 , TIME -1 MONTH

=>The stock had been trading in a sideways trading range after topping out in March 2010.

=>This sideways move constitutes a pattern called 'Rectangle'. Breakout of this pattern occured last week with a stupendous increase in turnover.

=>Trader's remorse followed post the breakout - Indecisive choppy movement.

=> Vigor of today's price move clearly tilts the table in favor of the bulls decisively.

The positive view stands intact as long as the stock trades above 208 on a closing basis. The stock is expected to rally 20% in a very short span of time.

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.

ATUL LTD - MOMENTUM WITH STABILITY

RECOMMENDATION - BUY AT CMP OF 197

TARGET - 247 , TIME -1 MONTHS

=>The stock had been trading in a sideways trading range after topping out in Nov2010. This time based correction has ensured that enough steam has been built for propelling it to much higher levels.

=>A breakout of this range constituting a triangle has occured today.

=> Its ability to consolidate above 08 high is a testimony of its supreme strenght.

The positive view stands intact as long as the stock trades above 184 on a closing basis.A must buy for every momentum trader!! Would not be surprised to see a return of 10% in a couple of days !!

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.

PIDILITE (CMP : 157)

RECOMMENDATION - BUY AT CMP

TARGET - 188 , TIME -2 MONTHS

=>The stock had been trading in a sideways trading range after topping out in Oct 2010. This time based correction has ensured that enough steam has been built for propelling it to much higher levels.

=>A breakout of this range occurred a few days back. Since then the stock has witnessed a sedate pullback with declining volumes. - Classical Textbook Stuff !!

=> The false breakdown in February (No follow through sell off after breaking of a significant support) is another reason for the likely strength for the stock - Since most of the weak hands have been flushed out.

=> The figure above shows a higher top and higher bottom formation and the resultant trendline. Since the support from this trendline is very close by, the margin of safety on the long trade increases immensely.

NOTE THE COLOUR CODING ON THE STOCK - AUTOMATED TRADING SYSTEM - where blue means buy and red means sell - The colour on the bars is blue supporting our bullish case for the stock.

The system works for all stocks and gives decent signals - Moreover its adds objectivity to the decision making process. If you need the automated reading on any of your stocks, plz feel free to drop in a comment and we would tell the system reading on the stock .

The positive view stands intact as long as the stock trades above 146 on a closing basis. Below this level, the  upward sloping trendline would be breached and hence the perceived bullishness may not fructify.

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.

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TIMKEN (CMP:207)

RECOMMENDATION - BUY AT CMP

TARGET - 258 , TIME -2 MONTHS

=>The stock experienced a sideways correction from Oct 2010 to March 2011. Post this lackluster move, the stock has shown signs of positive activity by breaking out to new highs with good volumes.
=>Post the breakout, the stock has been languishing and trying to digest the swift upmove in mid April. Tapering of volumes during this resting stage is a distinct positive and hints at the impending upside surge very soon.

The positive view stands intact as long as the stock trades above 180 on a closing basis. Below this level, the perceived bullishness may not fructify.

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.

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CAMLIN (CMP: 70.50)

RECOMMENDATION - BUY AT CMP

TARGET - 94 , TIME -2 MONTHS

=>The stock showed relative resilience during the market falls

=>The high hit in January 11 constituted the B wave. Subsequent fall (c wave) did not have the vigor to form a new low as compared to wave a - demonstrating innate strength

=>Smart increase of volumes once the B wave high around 65 was taken out.

The positive view stands intact as long as the stock trades above 62 on a closing basis. Below this level, the perceived bullishness may not fructify.

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.

FORTIS (CMP: 157)

RECOMMENDATION - BUY AT CMP

TARGET - 173 , TIME -T +14 DAYS

=> A breakout from a 'triangle' pattern

=>Resilience during the recent market fall.

=>Ability to bottom out before the market - demonstrating strength

The positive view stands intact as long as the stock trades above 149on a closing basis. Below this level, the perceived breakout of the triangle will not stand valid and hence the bullish view will not hold water.

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.

NIFTY ELIOTT WAVE COUNT

NIFTY IS AMIDST A 4TH WAVE TRIANGLE -  Waves a, b, c, d seem to be done. A rally is likely to materialise in the next two trading days. A move to 5600 or beyond seems very much on the cards. This move above 5600 would result in a throwover (false breakout) which would constitute wave e to complete the 4th wave. A fall to 5200 or possibly lower would then transpire. However, if the Nifty closes above 5700 on the rally, the bearish count may have to be revisite

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.

ABG SHIP- CMP: 363

RECOMMENDATION - BUY AT CMP

TARGET - 415 , TIME -T +14 DAYS

=> A breakout of the downward sloping trendline.

=>Resilience during the recent market fall.

=> Even on weeklies, the previous significant peak was unchallanged which is distinctly not the case with other mid cap stocks.

The positive view stands intact as long as the stock trades above 348 on a closing basis. Below this level, the perceived higher top and higher bottom formation would cease to exist and hence long positions would not be warranted.

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.

ASIAN PAINTS (CMP: 2572)

RECOMMENDATION - BUY AT CMP

TARGET - 2975 (TIME - 2 MONTHS), 3420 (TIME-6MONTHS)

=> The stock was one of the strongest performers in bull run that began in 08-09.

=> The fall in stock has been docile during the corrective spree in the market since 3 odd months

=> Active participation in the rise and relative dormancy during market falls establishes its internal strength.

=>  Break of downward sloping trendline probably hints at the formation of a bottom.

The positive view stands intact as long as the stock trades above 2440on a closing basis. Below this level, the perceived higher top and higher bottom formation would cease to exist and hence long positions would not be warranted.

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.

AMBUJA CEMENT (CMP:128)

RECOMMENDATION - BUY AT CMP

TARGET - 148 , TIME - 2 MONTHS

=> The downtrend seems to be arrested with the formation of a higher top and higher bottom formation.

=> A breakout of the downward sloping trendline.

=> Positive Divergence on RSI

The positive view stands intact as long as the stock trades above 119 on a closing basis. Below this level, the perceived higher top and higher bottom formation would cease to exist and hence long positions would not be warranted.

Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.