A TECHNICAL UPDATE ON NAVIN FLUORINE INT LTD—3.10.2023.

 

NAVIN FLUORINE INT LTD

FINANCIAL DATA

SECTOR: -- The Company primarily focuses on fluorine chemistry-producing refrigeration gases chemicals inorganic bulk fluorides specialty organofluorines and offers contract research and manufacturing services. 

                            F.Y-2022-23          MAR-2023 Qtr          JUNE-2023 Qtr

Sales:-                 1628.14Cr               451.41cr                   350.71cr                      

Net Profit:-           312.49cr                  87.82cr                     63.01cr

E.P.S:-                       63.05                     17.72                        12.71   

Cash-E.P.S:-             71.66                      19.15                       15.06

O.P.M:-                    28.43%                   29.40%                    27.41%

N.P.M:-                    19.19%                   19.45%                    17.97%

Equity: - 9.91 cr-- Face Value:-2,Book Value:-372.16, Price/Book:-10.12,Dividend Yield:-0.32,Share Holding Pattern:- Promoters—28.21%  & Public---71.19%, Market Cap:-18,672cr.

TTM (E.P.S):-73.08(+28.59YoY), TTM (PE):-51.54, Sector (PE):--36.77

Data Source: - www.bseindia.com & www.moneycontol.com. 

All-Time High:--4950 made on 15.05.2023.

All-Time Low: -- 14.80 made on 25.03.2009.

Recent Low:-3124.10 made on 14.05.2021.

Open—4000--High—4000.05--Low—3726.65--Close—3766.70 on 29.9.2023.

Support:3764.80/3726.65/3667/3587.35/3557.95/3540/3500/3432.85/3360/3260/3219/3202.50/3124.10/2932/2820.

Resistance:3847.35/3956.85/4033/4058/4127.55/4151.25/4220/4329/4366/4394/4511.25/4553.70/4639.65/4672/4725/4744.95/4848.35/4879.95/4980.

 (Bold and underlined figures are most important).

It has been moving in a range of 4848.35---3764.80 since 15.9.2022 but hit a new all-time high of 4950 on 15.5.2023 but could not sustain above the range and eventually broke the lower band of the range on 29.9.2023 intraday but managed to close shade above it, but still is a very weak sign, in fact one technical parameters on the weekly chart started showing weakness in the upper range of 4848.35 only.

The devastating single day fall on 29.9.2023 has ruined the chart setup and it has not only slipped into short, medium and deep long term corrective mode but into bear market territory also, furthermore almost all the important technical indicators are negative on the daily, weekly and monthly chart which is highly concerning and indicates further fall may be ahead if price action does not improve. Therefore all together it is on an extremely weak technical footing now and likely to go down further, so watch out few trading sessions for clear direction. It is important to mention here that it may get a foothold if it moves above 3960 and sustain on the closing basis. The overall bias is hugely bearish as of now.

Moving down from here it may find good support at 3726.65---3555---3489---3276---3155, all these points could be bounce back points also, but sustained break below 3726.65 will weaken it further and then break below each support point will make it weaker and the range of 3276---3155 will be the last critical support range from where a bounce back can be expected, but sustained break below the range could drag it down much lower, which please note.

Similarly moving up it will face stiff resistance at 3960---4070---4253---4519, please note that sustained close above 3960 will take it out from bear market territory and deep long term corrective mode, sustained close above 4070 may provide it some strength and it may resume the up move and finally sustained close above 4519 will take it out from all corrective mode and it may pick up strong up momentum.   

REMARKS: - In view of the devastating fall the stock has to be watched for at least 4-5 trading sessions before taking an investment or long trading call.

NOTE: - It is a technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore it has to be reviewed at regular intervals, furthermore  investors are advised to look into fundamental, financial details of the company because that too keeps on changing and last but not the least management perception for the future of the company before taking investment decision.

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.

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Note: Price stated here are of spot market.

                          Contact me for strategic guidance to enter and exit trade.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

 

A TECHNICAL UPDATE ON S&P 500 INDEX –1.10.2023

 

S&P 500 INDEX

Open—4328.18--High—4333.15—Low—4274.86—Close—4288.05 on 29.9.2023.

Support:4261.07/4238.63/4222.62/4195.44/4157.87/4114.65/4098.92/4048.28/3909.16/3877.29/3858.83/3808.86/3764.49/3721.56/3698.15/3636.87/3584.13/3491.55.

 Resistance:4328.08/4342.09/4356.29/4385.05/4400.45/4465.40/4486.87/4512.94/4541.25/4545.85/4607.07/4637.30/4718.50/4743.83/4748.83/4818.62.

 (Bold and underlined figures are most important)

Its overall long term technical setup has been threatened a bit as it is below some of its long term moving averages but still looks o.k. as of now, but further fall from here could be a weak sign. It is into short term correction mode, further almost all important technical indicators are negative on the daily & weekly chart and some on the monthly chart also, which indicates further fall may be ahead in coming days/weeks. Please note that break below 4198.70 will push it into long term corrective, which would be highly concerning and can drag it down lower but moving down it will find very strong support in the range of 4048---3805 and as long as it holds 3805 chances of up move will be alive, but sustained break below it could take it down to much lower levels.

Kindly note that to get out of long term uptrend threat, corrective mode and to gain some strength again it has to move above 4360 and sustain on the closing basis, then it can be expected that it may catch up momentum again and if it moves above 4553.21 and sustain on the closing basis then it could retest its all-time high of 4818.62 or may go beyond it also, chances of which looks slim at this point of time.

It is into correction mode now but long term uptrend still looks o.k. despite threat, it is therefore suggested to watch price action now because if price action weakens the long term uptrend will be potentially threatened, which please note.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic updating, which may please be noted.

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.

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Note: Price stated here are of spot market.

                          Contact me for strategic guidance to enter and exit trade.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON DOLLAR—Vs—RUPEE—1.10.2023

 

DOLLAR—Vs—RUPEE 

Dollar   closed at Rs. 83.22 on 29-9-2023. 

SUPPORT:82.41/82.38/81.76/81.66/81.61/81.54/81.07/81/80.88/80.35/79.31/78.89. 

RESISTANCE:83.33/83.40/83.67/83.96/84.06/84.14/84.47/84.64/84.80/84.88/85.19/85.39/85.86/87.54/88.15/88.94/91. 

TECHNICAL   OBSERVATION :- 

It has been consolidating and moving in a range of 80.35---84.06 since 11.11.2022 for almost 11 months now and breakout on either side will decide the further directional move. The technical setup looks o.k. as of now and since it is hovering near the upper band of the mentioned range for quite some time, therefore there is a good chance that it may give an upside breakout in coming days/week and months. So, watch out for breakout or one can trade the range now. The bias is bullish as of now. 

IMPORTANT:-Please note that technical observation is a regular process and interpretation changes with time and price movement, so one has to review it at regular interval.

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

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 are of spot market. 

Contact me for strategic guidance to enter and exit trade.

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

CNX- NIFTY STOCKS KEY POINTS AND SUPPORT RANGE ON THE DOWN SIDE—29.9.2023

 

SOME CNX- NIFTY STOCKS

S.N   NAME                 CMP         IMP BOTTOMS                   L. T. AVERAGE RANGE

 1.Asian Paints.         3161.05.   3151/3046/3033/2708 .               3057----2632. 

 2. Bajaj Auto.            5063.70.   4980/4777/4569/4541.               4609----4263.

3. Divi’s Lab.               3765.55.   3651/3529/3450/3308.              1.3569---3324.

                                                                                                        2.3838—3623.

4. Eicher Motor.        3446.95.    3381/3308/3274/3160.               3400---3282.

5. Grasim.                   1942.40.    1889/1758/1733.                       1785---1712.               

6. HCL Tech.               1234.80.    1202/1139/1125/1087.             1161---1112.

7. Hero Moto Corp.   3057.25.   2960/2916/2890/2745.                2875---2729.

8. Hind Unilever         2465.60.    2442/2419/2393/2318.              1.2596--2538.

                                                                                                        2.2505—2400.

                                                                                                        3.2238.

9. Infosys.                    1435.45.    1411/1386/1355/1263.             1. 1430---1377.

                                                                                                         2. 1499--1286                10. M&M.                  1554.25.    1544/1513/1508/1415.75.            1442---1350.        

11. Reliance Ind.         2345.          2311/2247/2180.                       1. 2497---2439.

                                                                                                         2. 2443—2325.

                                                                                                         3.2113.                                                                   

12. Tata Motors.           630.20.      612.25/599.05/593.30.                565---506.

13. Tata Steel.                128.90.      125.50/116.70/114.35.              117---112.

 14. TCS.                         3528.60.    3343/3331/3250.                      3383---3308.

15. Tech Mahindra.      1222.80.     1178.45/1135.60/1082.               1161---1097.                                                                                                             

16. Titan.                         3148.80.     3097/2951/2883.                     2922---2725.

17. Wipro.                         406.05.    396.55/387.85/377.10/352.   1. 412---393.

                                                                                                         2. 461---397.

                                                                                                         3.309-274-206.                                                    

 NOTE: -- Please note that long term moving average is a strong support range and could be a buying range but break below it can drag the stocks down to much lower levels. The range will change from time to time; I will keep it updated every week. Please note that figures in red indicate strong resistance.                                                                                         

Contact me for strategic guidance to enter and exit the trade.

 

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

                                                                                                                          

CNX-BANK NIFTY STOCKS KEY POINTS AND SUPPORT RANGE ON THE DOWN SIDE—29.9.2023

 

CNX-BANK NIFTY STOCKS

S.N   NAME                           CMP         IMP BOTTOMS    L. T. AVERAGE RANGE

 1. AU Small Finance Bank.713.50    707.55/ 696/630.85     1. 721----678. 

                                                                                                         2. 636----525.

2. Axis Bank Ltd.                1036.70. 1004/ 961.8/927/841        951---914.

3. Bandhan Bank.             251.60   243.70/229.55/209.55/182    243---231.

4. Bank of Baroda.           213.95      206.45/185.75/146.50        192----179.

5. HDFC Bank Ltd.  1526.30   1532/1515/1523.75/1414/1365  1.1640---1592.

 (It is very weak as it is below its first range)                              2.1541—1378.

6. ICICI Bank Ltd.           951.90   946/934.40/914/837/810/796    945---909.

7. IDFC First Bank Ltd.     95.50             89.30/52.10                              78----69.

8. Indusind Bank.           1428.85       1396/1363/1345/1262.       1320---1231.

9. Kotak Mah Bank.       1735.70    1746/1729/1643/1626.       1. 1844---1807.

     (It is very weak as it is below its first range)                          2. 1851—1660.                                                                      

10. P.N.B                    80.20 74.55/65.50/58.55/49.70/44.40     1.59---55.         Tough resistance range----                                                     2.78---95—107---130.

11. S.B.I                       598.55  583.45/ 554/501.55/499                580-----565.

12. Fedral Bank         147.20        144.15/140.80/ 130.50/121. 1.135----130.

                                                                                                               2.111.35—90.

NOTE: -- Please note that long term moving average is a strong support range and break below it can drag the stocks down to much lower levels. The range will change from time to time; I will keep it updated every week. Please note that figures in red indicate strong resistance.

 Contact me for strategic guidance to enter and exit the trade

 

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

                                                                                                                          

A TECHNICAL UPDATE ON DOW JONES INDUSTRIAL AVERAGE –2.10.2023

 

DOW JONES INDUSTRIAL AVERAGE

Open—33882--High—33893.68—Low—33407.45—Close—33507.50 on 29.9.2023.

Support:33399.69/33306.30/33236/32938/32812/33706/32586/32573.43/32500/31805/31728/31429.82/31231.27/30635.76/30145.31/29654.59/28723.55/28662.86

Resistance:33571.44/33610.52/33714/33771/33985/34029.22/34081.56/34155/34281/34331/34334/34342.28/34587.46/34711.63/34850/35092/35371/35492/35632/35825/36190/36317/36514/36562/36679/36952.65.

 (Bold and underlined figures are most important)

It is in corrective mode now. The overall technical setup is looking very weak at this point of time, it is well below its short& medium term moving averages on the daily and some below weekly chart also, its long term is threatened as it is below its long term moving averages also, furthermore almost all important technical indicators are negative on the daily, weekly and monthly chart and price action is weak, therefore all together the situation is highly concerning and indicates that further fall may be ahead. However it has strong support in the range of 33306---33100 and if it holds this range it can witness a bounce back, else down move may continue and then it may take support at 32586.57 & 32530.25, but break below 32530.25 will push it into long term corrective mode and that would be highly concerning. Please note that to get a foothold it has to move above 33660(figure may change) and sustain on the closing basis and to gain strength and get back on the up momentum track it has to move above 34260(figure may change) and sustain on the closing basis.

In view of the above observation since it is near its strong support range of 33306---33100 therefore watch out few trading session for a clear direction. The overall bias is bearish as of now.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic updating, which may please be noted.

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.

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Note: Price stated here are of spot market.

                          Contact me for strategic guidance to enter and exit trade.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL UPDATE ON CNX-BANK NIFTY—3.10.2023

 

CNX-BANK NIFTY

Open---44445.35---High—44755.05---Low---44344.90---Close—44584.55 on 29.9.2023.

Support:-44547.80/44539/44498.60/44459.25/44279.40/44254/44207.25/44182.50/44151.80/ 43950/43862/43830.75/43706.15/43600.35/43519.55/43446/43345.95/43078.90/43038.25/42986.45/42582.20/41962

Resistance:44795/44949.60/45118.05/45238.80/45655.50/ 45782.75/45816/45893.80/46310.40/46369.50/46761/47063/47123/47284/47427/47755/48081/48198/48446/49139.           

 (Bold and underlined figures are most important)

After yesterdays fall it opened on a positive note today and had strong up momentum during the day but could not sustain at higher levels but finally ended the day with a gain of 283.60 points.   It came out of deep corrective mode for earlier gains but still into deep short term correction mode for its recent rise. It is below some of its short & medium term moving averages on the daily and below some short term moving averages on the weekly chart also; all together it is a very weak sign and indicates that further fall may be ahead with short relief rallies. Please note that to get it into pullback mode it has to close above 44685(figure may change) and sustain, else the down move may continue,  but to get into strong up momentum track it has to close above 45060---45816 & 45885(figures may change) and sustain on the closing basis. However, if it manages to hold the range of 44254---44151.80 it can still bounce back but break below this range could be highly concerning. The short term technical setup has weakened, furthermore on the daily chart all the five important indicators are negative now therefore down move is likely to continue, few indicators on the weekly and monthly chart are also showing weakness as of now. Please note that weak indicators with weak price action are a deadly combination and it can pull it down sharply and the price action has been weak since 18.9.2023 the price action has been weak since 18.9.2023, but it made an inside price bar today within the yesterdays price bar which indicates it can have big move on either side in a day or two. It is therefore suggested to keep an eye on the price action and look for higher highs & lows for at least 2-3 days then the trend may reverse, else it can resume the down move, so watch out price action. It is into deep short term correction mode now but the long term trend is still up.  

Moving up from here it may face resistance at 44628---44658---44685---44704---44995—45011---45118---45259---45311---45507----45671---45725---45782.75---45816---45885---46310.40---46369.50(some figure may change). Please note that it may correct at any of these points and then may resume the up move again or rally may exhaust also.

Kindly note that moving down from here the key support points could be 44539---44254---44151.80(figure may change) break below 44539 will push it into medium term correction mode,but  if it holds 44254 & 44151.80 on the closing basis then the hope of  up move will still  be alive ,but break below 44151.80 on the closing basis may dampen the possibility of continuation of the up move and it may slide down and then the next strong support range would be between 44060----43600----43446---43345.95 Break below 44060(figure will change every day) will threaten the long term uptrend. It is important to mention here that sustained break below 43345.95 on the closing basis will trigger fresh fall and it may witness an accelerated down move and most importantly it could be trend threatening also, which may please be noted.

 

IMPORTANT NOTE: -- It is into short correction mode now, therefore it is sell on the rise market now till it closes above 45816 and sustain, therefore long trade could be risky thing till correction is on and it can get out of corrective mode if it closes above 45814, but long trade can be tried intraday at critical support points for pullback gains only. Long trade below 44340 could be a risky bet for the day.

TRADING TIPS:--

1. Safe traders should avoid long trade till correction completion sign emerges or it closes above 44685 at least. But aggressive traders can try long trade on decline near or within the range of 44300—44151.80 with a stop loss of 44000.

 2. It is into the long term uptrend therefore short trade in general could be a risky affair, but it is into deep short correction mode now, therefore short trade can be attempted but with extreme caution and care on the reasonable rise or on the price breakdown for intraday corrective gains. Short trade can be tried on the rise near or within the range of 44900---45000 with a stop loss of 45100 or sell if it moves below 44151 with a stop loss of 44350.

NOTE: - If it opens up with huge gap up  then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

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.

Kindly note that make your cost your stop loss in favourable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS. 

Note: Price stated here are of spot market. 

m for strategic guidance to enter and exit trade.

Thanks 

Narendra Kumar Surana

Email—suranank@gmail.com

Mobile—8240951127/9831313654.