Technical Analysis of Indian Equities by Nooresh

Technical Charts–Consolidations–Camlin Fine, Cosmo Films, Sudarshan Chemicals and Thangamayil Jewellery

In our last post we mentioned as to how India was now diverging with global indices and time to lookout for reversal signals.It just took 3 sessions post the announcement.

Now that Index has done well its time to keep looking out for stock specific trends.

In todays post we look at a few stocks which are consolidating for quite some time now.

They may remain in the range for a long time, quickly breakout or do nothing but are kept on radar as long consolidations tend to give strong moves.

CamlinFine

Camlin Fine – A good consolidation for a year. Clos above 65-68 could be interesting.

Cosmo Films

Cosmo Films – Far from a breakout for now but on radar.

Sudarshan Chemicals

Sudarshan Chemicals – Strong volume action in last few days makes it interesting.

Thangamayil

Thangamayil Jewellery – Not a very liquid stock but fundamentally very well placed and interesting. Strong Profit growth over the last few years.

Time to watchout for a volume action and price going above 360.

 

Technical Analysis Training Mumbai – 12th and 13th October 2019.

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Article by Nooresh Merani

Nooresh has written 2754 articles.

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