Category Archives: Stock Investments

Energy Stocks, Indian Stock Market, Stock Investments, Stock Trading, Technology Stocks

Reliance Stock Analysis-24Dec2019

Reliance (RIL) stock closed today at 1546. Today, 24 Dec 2019, the stock has broken its uptrend, which started on 20 Sep 2019. So the Reliance stock has broken its uptrend after 3 months, moving up from 1240 to 1560, in this period, and also taking Nifty50 index to new lifetime high in the same timeframe, because Reliance currently has the largest weight of approximately 10.50% in Nifty50 index.

The immediate lower support is at 1500, which is the 50 day simple moving average. That will be a key level to watch and defend, because if the stock can bounce back up from there, it can make new highs in coming months. However, if Reliance stock breaks downs below 1500, then further correction will follow immediately, and the supports are at 1440 and 1400 level. The path taken by Reliance in Jan-Feb 2020 will also impact the direction of Nifty50 index.

If you are interested in trading Reliance (RIL) stock or futures, ongoing basis, please contact us for our specific service for this purpose.  You can also use the Alpha Stock Trading Course to capture all major uptrends in Reliance or any stock or index.

Indian Stock Market, Stock Investments, Technology Stocks

TCS Stock Analysis-17Dec2019

TCS (Tata Consultancy Services) is one of the world’s leading software/IT services providers, and it is based out of India, with offices and worldwide. TCS is known for its project execution capabilities at a large scale, and this helps in winning projects from the world’s largest clients.

The shares of TCS are listed on the two leading stock exchanges of India, NSE and BSE. TCS shares are considered very stable and reliable by investors, both domestic and foreign investors, and almost every correction in TCS share prices is used for buying by new and existing investors. TCS stock had made a big move in 2018 and 2019 has gone in consolidation of that big move. We may see new lifetime highs in TCS stock in the coming months.

TCS stock has bounced from its strong established support at 2000 level. Now, its moving up after a double bottom pattern, which is a reliable pattern. The breakout happened above 2123. The current upside target is 2190-2195, where a strong resistance is in place since October 2019. Traders should take profit around 2190 and wait for the stock to navigate the 2220 level. A clean new long trade will come above 2225 for target 2300. Having established 1980-2000 as a strong support, TCS should make new highs in 2020, and investors can expect 2500 level in 12-24 months. Investors can continue to buy/accumulate TCS at all levels between 2000-2200, because this is a long term investment stock, and we can see 3000+ level in 3-4 years.

Please note that TCS is sensitive to the movements of S&P500 and Nasdaq100 indices, because majority of TCS revenues from come North America and Europe, whose economies and business conditions are reflected in these two large equity indices. With the S&P500 and Nasdaq100 indices making new lifetime highs in December 2019, TCS  should remain bullish. Thanks.

 

 

Financial Stocks, Foreign Investors, Indian Stock Market, Stock Investments, Stock Market News

JM Financial Monthly Chart Analysis- 27Nov2019

JM Financial is a leading non-banking financial company (NBFC) of India. The monthly chart of JM Financial looks bearish as of today, 27 Nov 2019, because it completely lost all the gains on this month. The stock started the Nov 2019 month at 80 and went up till 100, and is now back at 83, which indicates significant selling from the 100 level.

Below 80, the stock can go down till 60, though there are multiple supports between 60-72 level. On the other hand, if the stock starts moving above 89, then it will become very bullish, and then stock can test 100, and also cross it to reach 120-125 levels.

Investors can buy some shares at 80-81, and wait for either 72 or 89 to buy more. All prices below 80 are attractive for 1-2 years timeframe. Above 100, the stock will be in strong uptrend, and one can buy in large quantity for target 120, which will be 20% upside. From 80, the target of 120 will give 50% gain. For the year 2020, 120 is the first target, and 150 is the second target. So for the year 2020, JM Financial stock has range of 60 on downside to 150 on upside.