Srihari - Stock Analysis

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE Reliance Industries Breached the 1700 level for the first time intraday and quickly regained. As long as the big green candle is held, it is a buy on dips. If the level's of 1660 is given up, we can get bearish. Intraday Levels: Buy above: 1700 - Target 1720/1740 1740 - Target 1760/1780 Sell Below: 1720 - Target 1700/1690 1690 - Target 1680/1670 Bharti Airtel Exactly reversed from the channel high at 576 as suggested and there was a good sell-off. There is a possibility to test 550 before a bounce again. Intraday levels: Buy Above : 560 - Target 566/572/578 550 - Target 560 Sell Below : 560 - Target 558/550 550 - Target 546/541/537 LIC Housing Finance A good first session and then a sell of to form an inverted hammer candle on the daily. Will there be a bounce back ? Intraday Levels: Buy above: 265 - Target 270 270 - Target 2...

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE Headline indices Nifty ended lower on June 29 amid mixed global cues as surging coronavirus cases around the world threatened to derail economic recovery hopes. Nifty finished 71 points, or 0.68 percent, lower at 10,312.40 while the Nifty Bank index closed 1.08 percent lower. Let us see how the analysis for    June 28, 2020  performed and the levels for June 29, 2020. Reliance Industries It was a pretty volatile day and the first session saw a sell off from 1740 to 1710. After that it was a day of consolidation and closed around 1720 levels. 1710 level is acting as a good suppot for Reliance. The chart shows a pennant formation - also a possible cup formation - will we see a break to either side tomorrow ? Futures show an increase in OI pointing to a short buildup. Intraday Levels: Buy above: 1720 - Target 1740 1740...

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE Market posted gains for the second consecutive week that ended on June 26 amid volatility due to June F&O expiry, earnings, rising COVID-19 cases in India and around the world. The face-off between India and China along the border and the ongoing spat over trade between China and the United States remained investors’ key concerns. Nifty closed with a 91 points gain on June 26, 2020 on a last 30 minute buying spree. Let us see how the analysis for    June 26, 2020  performed and the levels for June 28, 2020. Reliance Industries Reliance opened the day with a strong push from 1730 to 1745 and gradually gave up the gains through the day. Post 2pm there was a buying spree and Reliance shot up from day's low to close above the days's high at 1750. 1710 levels are forming a good support zone for the interim. If in the...

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE Indian markets remained volatile on June 25, tracking muted trends in other Asian markets and as traders rolled over their positions from June series to July series. The Sensex fell 26 points to close at 34,842 while the Nifty50 ends at 10,288, 16 points down World stocks slipped to their lowest in over a week as a surge in US coronavirus cases and an IMF warning of a nearly 5 percent drop in the global economy dented sentiment. Let us see how the analysis for    June 25, 2020  performed and the levels for June 26, 2020. Reliance Industries Reliance opened at 1727, made a high of 1749, low of 1713 and closed at 1717. It was mostly a single sided move from 1740 after the initial surge. Reliance is seen consolidating at the upper levels. It has printed a  inverted hammer candle. 1710/1720 levels have been acting ...

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE The market snapped its four-day winning streak on June 24 ahead of June futures and options contracts expiry, with the benchmark indices falling 1.58 percent, dented by weak European cues and selling pressure across sectors barring FMCG.  The Nifty lost around 250 points from the day's high and closed with a loss of 165.70 points at 10,305.30, forming a bearish engulfing pattern on the daily charts. Let us see how the analysis for    June 24, 2020  performed and the levels for June 25, 2020. Reliance Industries Reliance opened higher at 1743 and as expected started giving up the gains to make a low of 1711. It was time to lift Nifty and Reliance shot up 60 points to a high of 1772 and fell from there to close at 1732. As suggested, on the whole it was a day with trades on both sides. Reliance has formed an...

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE Benchmark indices rallied for the fourth consecutive day on June 23 supported by the buying seen across the sectors. At close, Nifty was up 159.80 points or 1.55% at 10471. About 1929 shares advanced, 749 shares declined, and 143 shares were unchanged.  Let us see how the analysis for    June 23, 2020  performed and the levels for June 24, 2020. Reliance Industries Reliance witnessed follow through selling from yesterday. As suggested, Reliance gave a good SELL trade from 1750 and made a low of 1716.  Now we have an Evening Star in the daily charts indicating a downside possibility until 1697/1670. Nifty made tremendous strides to close above 10400 without Reliance participating the rally. Reliance cannot lag behind if the rally in Nifty is to sustain. So could expect some pull back in Reliance too. Future...

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE Nifty continued its northward march for the third day in a row to close at 10,311 levels, the highest since March 11, despite weak global cues.  The Nifty Bank closed 1.74 percent higher at 21,708.35. The coming days could be volatile because of the monthly expiry. Let us see how the analysis for    June 22, 2020  performed and the levels for June 23, 2020. Reliance Industries As was shown in the chart, Reliance hit 1800 from 1760 levels on open and reversed from there possibly due to profit booking. It made a low of 1734 and closed at 1754 1800 could act as a resistance for the immediate term. If 1720 levels break, we could possibly see 1600 levels as well. Futures OI indicates a bit of long covering as well, but rollover to July series is also happening. The chart shows an 'Evening Star' formation - So if Rel...

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE The Indian market ended the week ended June 19 on a positive note as Nifty rose almost 3 percent week-on-week. The markets had begun the week on a negative note as fears of a second wave of COVID-19 infections sent jitters across global markets. Geopolitical tension between India and China also kept the markets in check. Experts point out that the recent up-move indicates participations are hopeful of de-escalation of tension between India and China.  Let us see how the analysis on  June 19, 2020  performed and the levels for June 22, 2020. Reliance Industries Reliance opened at 1670 and stayed sideways in the first session. It started to raise around 12pm from 1684 and made a high of 1788 and closed around 1763. It was just a rocket move 🚀🚀to take out all the tragets that we had as per the ABCD pattern in th...

Fundamental Analysis Pros: Stock is trading at 0.51 times its book value Stock is providing a good dividend yield of 19.67%. Company has good consistent profit growth of 21.19% over 5 years Company has a good return on equity (ROE) track record: 3 Years ROE 27.19% Company has been maintaining a healthy dividend payout of 42.02% Cons: Company has low interest coverage ratio. Promoter holding is low: 23.56% Technical Analysis  

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE Despite negative global cues, Indian equity benchmarks logged strong gains on June 18, supported by a rally in banking and financial heavyweights. The Nifty settled 211 points higher at 10,091.65 while the Bank Nifty clocked 754 points to close at 20956. "With the Supreme Court's AGR ruling providing a respite to exposed banks, the relief was visible in the banking stocks, especially those which had exposure to telecom companies. The banking index contributed the most to the positivity and almost all components of the index ended the day positively. The current geopolitical situation and associated comments also aided sectoral movements" Let us see how the analysis on  June 18, 2020  performed and the levels for June 19, 2020. Reliance Industries What a rally it was today in Reliance - Opened at 1605 and there was n...

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE Indian indices ended in the red on June 17 amid concerns over escalation of the India-China border dispute. Also, the Supreme Court listed the matter related to Interest waiver during loan moratorium for the first week of August. Nifty closed 33 points down at 9881 and bank nifty closed 100 points down at 33507. Lets see how the stocks we track performed based on the analysis on  June 17th   Reliance Industries Reliance trade the whole day above 1600 for the first day - opened at 1602, made high of 1635 and closed at 1615. So we got trades on both sides per the levels given on the last analysis Per the ABCD pattern, we still have not closed above the point at 1618 on a daily closing basis.  The harmonic patten on a lower timeframe (15min) gives a bearish view; If Reliance trades below 1600, we could see 15...

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE What a day it was -  Benchmark indices closed on a positive note amid volatility on June 16. The market opened higher in the morning on the back of positive global cues, but turned negative during the day on escalating tensions between India and China. The indices though bounced back in afternoon to close in the green. At close, Nifty was up 100 points.  As per the  June 16th  analysis, let us see what happened. Reliance Industries Reliance opened at an all-time high of 1648 and fell one way till 1585 and from there showed a 'V' shaped recovery to closed at 1615. As per the levels given, we got a good SELL trade in the first session and a BUY trade in the second session - thats a double whammy ✌ As said already, closing above 1600 is good - Global cues, if good will take Reliance to 1700+ Per the ABCD pattern i...

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT TO PEOPLE FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE It was a volatile day on June 15th 2020. In the first session the markets fell and recovered in the second session. As per the  June 15th , let us see what happened Reliance Industries The much expected breakout and close above 1600 happened today !! ✌👏 The close was around 1610 and if the global cues are good, we can see 1700 soon. Reliance gave trades on both sides today per the last analysis Sell : from 1594 to 1565 Buy: from 1565 to 1626 Reliance is a buy on dips for now and if it closes above the 'B' point - the ABCD pattern will be activated. Intraday Levels for 16 June, 2020 Buy Above: 1626 - Target 1633/1650 1611 - Target 1626 1592 - Target 1611 Sell Below: 1626 - Target 1611/1593 1593 - Target 1580/1561 Bharti Airtel It was a bearish day for Bharti - Opened at 556, made a high of 562 and closed at 550....

June 12, 2020 the markets opened huge gap down following the global cues. But it recovered spectacularly to close the day in green. As per the  June 11th  analysis the bearish targets got achieved on open and we got BUY trades for the day Reliance Industries Reliance opened at 1497 and closed at a high of 1593. All our buy levels got triggered and achieved the target 👍Over the weekend, news came out about the investment of TPG and L Catterton on the Jio platform taking the total value of Jio above 1 Lakh Crore. There is no bearish view on Reliance at present. If a close happens above 1600 levels, 1700 is not far away. For the next week these are important levels to watch (assuming good global cues) - close above 1618; will activate the ABCD pattern below - possible target are 1633, 1650, 1667, 1691 and 1736  - support seen at 1530/1540  Intraday Levels for June 15, 2020 (if levels sustain) : Buy above: 1590 - Target 1600/1610/1620 1620 - Target 1633/1650 Sell Below:...

June 11, 2020 was a bearish day for the Indian Markets.  As per the June 10th analysis most of the bearish views came true Reliance Industries Reliance opened at 1566 and kept falling through the day in a channel to make a low of 1531. 1540-1545 gave some support but did not hold on today's selling  The handle in the form of a small cup is ruled out now. 1530 acted as a good support and we will see if the price moves up tomorrow.  So per the levels given we got a good SELL trade today  Intraday levels: Buy above: 1540 - Target 1550/1560 1560 - Target 1570/1580 Sell Below: 1530 - Target 1515/1500 1550 - Target 1540/1530 Bharti Airtel It was a volatile day in Bharti today because of the AGR case hearing in SC. Bharti opened at 570 levels today and made a high of 573.8. After that it was very violent with a lot of spiky moves on both sides. The low for the day was 546.7 and it closed above 551. Today 549 acted as a good support  So my bearish view came true and th...