My View On Reader's Query-4-11-14

MY  OBSERVATION  ON READER’S QUERY

FOR  INVESTOR

ITC LTD ,PAGE INDURTRIES  & EICHER MOTOR LTD :-These are  portfolio stocks and should be viewed in  at least 5 to 10 years time frame and not on daily basis if you are hard core investor .For investor these stocks should be accumulated on every reasonable decline. I would  like to add here that, It is also important to see how the stocks are technically placed too so that one can suitably time the entry & exit points for maximum gain and protection of capital. Technical view on these stocks are given hereunder for traders. Investor  are advised to buy on decline.

TECHNICAL OBSERVATION

1.ITC LTD:-  Technically it is in the range of   339---388 now and expected to oscillate within it for some time and breakout on either side will decide which way it want to go ,break below 350 level  will give first indication of some weakness and below 339 it will become potentially weak .Since one advance technical parameter is showing some sign of  weakness therefore I would personally prefer to avoid long call in the stock  now  ,but traders can try both long and short call at proper points with an adequate stop loss. Please use support and resistance levels (given here under) as entry , exit and stop loss  point for your trades. 

  

SUPPORT:-348 / 343.45 / 340 / 326 / 311 / 307 & 285.

RESISTANCE:-360 / 365 / 380 / 388

2.PAGE INDUSTRIES LTD:- Technically looking good and seems consolidating here and after that it is expected to continue its up move. Please note it has a strong support at 8600 & 8200 and if it break below 8600 and stays then it will be first sign of some weakness and break below 8200 can trigger reasonable to moderate correction in the stock, chances of which are looking slim as of now, therefore I  still suggest to buy on dip till it breaks 8600 and stays. The long term up trend threatening point is at far below at 7450.Please use support and resistance levels (given here under) as entry , exit and stop loss point for your trades. Do not trade without stop loss.  

  

SUPPORT:-8611 / 8205 / 7566 / 7475 / 7300 & 7101.

RESISTANCE:-9187 / 9938 / 10060 / 10300 / 10760 & 11890.

3.EICHER MOTORS LTD:- Technically  exhibiting  good strength therefore buy on dip is suggested but since the  strong bottom for it exist  far below at 10727.so avoid fresh long call if it starts trading below 11970 and below 11500 avoid long trade completely because then it may go in for deeper correction. Please use support and resistance levels (given here under) for entry , exit and stop loss point for your trades. Do not trade without stop loss.  

  

SUPPORT:-12299 / 10860 / 10826 / 10727 / 10634 & 9711.

RESISTANCE:-12825 / 13210 / 13344 / 13570 & 14650.

4.ABAN OFFSHORE LTD:- I consider it  absolutely a trading stock .Technically it is looking weak but now it is in a pull -back mode  and may give some rise from here. The short range for it is now between 681—590 and the long range is between 750--590.Since it is technically weak I therefore suggest to book at least part profit in your long trade on the rise, if it moves above 681 and stays then hold the balance position with a stop loss of below 670, if it does not then get out of the long position completely. I would prefer to avoid fresh long call completely but aggressive trader can still try it now with a stop loss of below 620. Please use support and resistance levels (given here under) for entry, exit and stop loss point for your trades. Do not trade without stop loss. 

   

SUPPORT:-585 / 567 / 540 / 533 / 490 / 459 & 369.

RESISTANCE:-652 / 668 / 686 & 728.

Disclaimer:-The view expressed here are solely of the author and he is  not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade