View on Raj Television Network Limited!

Raj Television Network Limited

Raj Television has been consolidating its prices between Rs.45 and 85 levels from January 2009 as shown in the above monthly chart. On January 5^th, it gave a price breakout above its 52 week high of Rs.85.4. Thus, we recommend buying in the stock as it has gathered enough ammunition and have the potential to move up to the levels of Rs.124/ 160/ 198. Hold this stock until it closes below the 200 DMA shown in the below picture. Currently the 200 DMA is at Rs.57.

Update On Gold!

Gold Daily Chart

 

In our previous report dated November 30th 2011, we had expected gold to drift downwards from $1750 level to $1600 level. After achieving our target of $1600 on December 14th, 2011, gold continued its downward trend and it went on to break $1532 level today (low of $1532 was made in the month of September this year). Now, we expect the downtrend to continue if it closes below $1532 levels. This would open shutters for the downside level of $1363 in the short term.

We recommend selling gold if it closes below $1532 and add position as it rises. We expect this downward rally to continue up to $1452, $1397 and $1363.

We maintain our long term trend as Bearish targeting $1100 as long as area of $1805 is protected.

Currently, gold is trading below the 200 day SMA.

Update on Havells India Limited!

Havells India Limited (Daily Chart)

The stock is in a sideways movement and has just completed its sharp downward rally from 445.25 to 386.5 which is a strong support area and has its 200 DMA at 378 levels. Below the 200DMA, the bears can once again take control and are set to take the stock lower. The divergence in Directional Movement Index and Force Index are evidences that any up move in the stock for now will be to add short positions. Also, a Buddha Top formation at 450 levels confirms that the upward movement in the stock has halted for a while. Thus, we suggest initiating fresh short positions in the stock below the level of 378 and add as it turns higher for a short term target of 332-295-260-215.

View on Gold for this winter!

Daily Gold Chart

Since September 2011 gold has been in a down trend from 1921$/Ounce to 1523$/Ounce. Since then it has been in a sideways correction phase for the last two months. Our view is to sell gold around 1750$ to 1774$ and we expect final panic rally targeting up to 1600$.


On the other side if gold breaks above 1805$, we expect an upside rally targeting up to 1840$ and 1921$.

We maintain our long term trend as Bullish targeting 2350$ as long as areas of 1520$ is protected.

Sell Exide Industries!

Exide Industries Ltd Weekly Chart

Exide Industries Ltd Screener

The stock was in an uptrend since April’ 09 until November’ 10. Since November’ 10 it has formed a double top around 180 & double bottom around 110 levels. Hence, we recommend short selling on a downside break of 108.  

Support	91	80	71	61	47.5
Resistance	117	121	130	140	150
Recommendation	Based on the chart & explanation above, we recommend selling in Exide industries below 108 and take profit at various levels (93, 70.5 & 57). Maintain a stop loss above 130 to protect losses.

If you have any queries, we are just a phone call away.

Best regards,

Dreamz Consultancy

+ 91 98845 27725

+ 91 98413 27014

dc.finserv@gmail.com

 

Bata India Update!

Bata India Weekly Chart

Bata India Screener

Support	572	520	468	401	337
Resistance	629	650	670	686	712
Recommendation	Based on the charts and explanations above, our opinion is selling Bata India around 610 to 645 and take profit in stages at 561, 519 and 471 and stop loss above 741 might be appropriate.

 

Nifty Update!

Nifty Screener

Support:      4720, 4560, 4460, 4380, 4300
Resistance:  4885, 4985, 5065, 5145, 5260

Recommendation:  Based on the charts and explanations above, our opinion selling nifty below 4720 and take profit in stages at 4560, 4380 and 4200 and stop loss with daily closing above 4980 might be appropriate.