Technical Analysis of AMD Industries Limited (NSE India) on 31 March 2017

Technical Analysis of Indian Stocks: AMD Industries Limited (NSE India) on 31 March 2017

This is no buy/sell recommendation – just a trial to see if Technical Analysis (works to an extent) in NSE – India.

First let us look into the Technicals: It seems AMD’s supply is exhausted at 26.50 for the moment. It has broken a down trend line and is out of the BB.

Prediction: A small down move followed by a run to 32+ could be expected (SL @ 27.90).

Technical Analysis of Stocks in Dhaka Stock Exchange: A Pause

One of the main objectives of writing the articles on Technical Analysis of Stocks in Dhaka Stock Exchange was to evaluate whether it works or not in Bangladesh Stock Market - as many people say that the market is manipulated.

From my previous experience, I have seen that it works around two-thirds of the time. But this time, I plan to evaluate the ~100 analysis done from Nov '16 till End of March 2017.

Hopefully, by next three weeks I will be able to complete the evaluation and write an article on: "Does Technical Analysis Work? An Empirical Evaluation"

However, before taking a pause, I will try to take a look at the Index in general and try to guess what might happen next!

In the weekly chart, the last candle looks like a sort of doji - the market is undecided! Thus, the next two candles will show the next path - up or down.

However, technical indicators are hinting at a correction. The decrease in volume also is a sign of weakness.

That is not to say that all stocks will fall. Some are on bull moves, some are nearing reversals while some may fall - possibly like Islami Bank (which I earlier thought would give a third wave) which disappointed with its paltry dividend.

Take care and best wishes as always . . . 

Technical Analysis of BDCOM on 30 March 2017

Technical Analysis of BDCOM on 30 March 2017

This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.

BDCOM is an OK IT company that gives OK dividends.

Technically, in the last three years, it sort of moved in a trading range from 22 to 28 with some minor aberrations. After record date, it peaked at 28.4 on 7 Dec ’16 and is now retracing.

Hope to pick it in the lower 20’s . . . 

Technical Analysis of BSRM STEEL on 29 March 2017

Technical Analysis of BSRM STEEL on 29 March 2017

This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.

BSRM Steel is a growth company that gives good Cash Dividends.

Technically, it broke out with Huge Volume today. After a pull-back, it might make a bullish move as was expected in BRSM Limited Analysis done on 17 March 2017: http://imti77az.blogspot.com/2017/03/technical-analysis-of-bsrm-limited-part.html

It for the risk-taker with Stop Loss at 97 . . .

Technical Analysis of Aarti Drugs Limited (NSE India) on 28 March 2017

Technical Analysis of Indian Stocks: Aarti Drugs Limited (NSE India) on 28 March 2017

This is no buy/sell recommendation – just a trial to see if Technical Analysis (works to an extent) in NSE – India.

First let us look into the Technicals: Aarti Drugs seems to be reversing on a Double Bottom ~ 566. A Bullish Engulfing Candle on 28 March seems positive – but the wick above suggests some overhead supply. A retracement to ~544 would have been a safer entry point

Prediction: A bullish move could take it to ~615-620 (SL @ 570).

Fundamental Data: With increasing Revenue and Profits, increase in share price could be expected.

Actual in M INR	2014	2015	2016
Sales	9 699	10 943	11 349
Operating income (EBITDA)	1 464	1 690	1 757
Operating profit (EBIT)	1 183	1 380	-
Pre-Tax Profit (EBT)	848	-	953
Net income	617	-	687
P/E ratio	5,20	20,4	15,9
EPS ( INR )	25,5	31,9	28,4
Dividend per Share ( INR )	-	-	6,75
Yield	-	-	1,50%
Reference price ( INR )	132.5	649.9	450.1

Note: Data collected from Internet (I am not sure about the accuracy)

Technical Analysis of DBH on 28 March 2017

Technical Analysis of DBH on 28 March 2017

This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.

DBH is a growth company that gives good Cash Dividends.

Technically, it has been consolidating from 100 to 115 (from April ’16 to date – around 12 months). Today it broke out with Huge Volume. It might pull back to ~115 before flying away.

It is for the risk-taker with Stop Loss at 107 . . . 

Technical Analysis of Anlima Yarn on 27 March 2017

Technical Analysis of Anlima Yarn on 27 March 2017

This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.

I don’t know much about the company except that EPS ~ 1 and it gives 10% Cash Dividend every year. PE ~ 35.

Now to the Technicals: From 26 at end of ’16, it had a run to 40.3 on 8 Feb ’17 and then after 50% Fibo retracement, it has broken a down trend line (and re-test also complete). Today’s move on high volume implies bullishness.

It might slow down a bit before next up move offering the risk-taker a chance to enter (with Stop Loss at 5% of entry price) . . .

Technical Analysis of Welspun India Limited (NSE India) on 27 March 2017

Technical Analysis of Indian Stocks: Welspun India Limited (NSE India) on 27 March 2017

This is no buy/sell recommendation – just a trial to see if Technical Analysis (works to an extent) in NSE – India.

First let us look into the Technicals: Welspun seemed to be in a trading range from July ’16 to Feb ’17 (from ~70-90). In early March, it broke out to 111 but then fell back to around 73.

From 1^st Feb, it rose from 73.30 to 97.90 on 10 Feb ’17 on High Volume. After Fibo Retracement on low volume (it also seems like a Flag), it broke out on High Volume on 24 March ’17. There seems no sign of a re-test!

Prediction: Pattern suggests that it could rise up to ~109. To be on the safe side, I would say it could reach at least 107 with SL @ 83.40

Fundamental Data: With increasing Revenue and Profits, increase in share price could be expected.

Actual in M INR	2015	2016
Sales	47 229	53 877
Operating income (EBITDA)	12 742	15 575
Operating profit (EBIT)	9 412	11 825
Pre-Tax Profit (EBT)	7 533	10 378
Net income	5 398	7 029
P/E ratio	6,66	15,3
EPS ( INR )	5,38	7,00
Dividend per Share ( INR )	1,05	1,30
Yield	2,93%	1,21%
Reference price ( INR )	35.8	107

Note: Data collected from Internet (I am not sure about the accuracy)

Technical Analysis of ICB: Part 2 on 27 March 2017

Technical Analysis of ICB: Part 2 on 27 March 2017

This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.

First let me evaluate the previous analysis done on 3 Feb 2017: http://imti77az.blogspot.com/2017/02/updated-technical-analysis-of-icb-on-3.html

I had expected it to come to around 140-145 and then move up.

Actually, it came down to 153 and is now moving up.

In the Weekly chart, it has broken out of a Symmetrical Triangle – there are no signs of a re-test yet! Target pattern suggests around 250 in the long run . . .

It is for the risk-taker with Stop loss at 5% of entry price . . .

*On a separate note, interestingly, Islami Bank has a similar pattern too - but yet to break out . . . 

Technical Analysis of MJLBD on 27 March 2017

Technical Analysis of MJLBD on 27 March 2017

This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in Dhaka Stock Exchange.

Fundamentally, it is a good company.

Current fall might be due to rumors of GOB reducing price of LPG.

Now to the Technicals: Recently it has created a Head And Shoulders pattern - down target estimate is ~104.

Hope to catch the reversal . . . 

Best wishes . . .

Technical Analysis of TD power Systems Limited (NSE India) on 26 March 2017

Technical Analysis of Indian Stocks: TD power Systems Limited (NSE India) on 26 March 2017

This is no buy/sell recommendation - just a trial to see if Technical Analysis (works to an extent) in NSE – India.

First let us look into the Technicals: After reaching low of 153 on 28 Feb 2017, TD power reversed (both in weekly and daily charts).

Daily Chart: After about a week, it increased on huge volume that took it to ~194.

Then after 50% Fibo retracement (on low volume), a Bullish Engulfing Candle on High Volume on 24 March '17 is suggesting further bullishness.

Prediction: Next move could take it to around ~200; SL: 175

Fundamental Data: Revenue increased in ’15 but profit decreased. If it can increase profitability, then further rise could be expected.

Actual in M INR
Fiscal Period March	2014	2015
Sales	4 802	5 974
Operating income (EBITDA)	198	141
Operating profit (EBIT)	48,7	-147
Pre-Tax Profit (EBT)	354	59,6
Net income	224	-8,28
P/E ratio	40,1	-1 435
EPS ( INR )	6,74	-0,25
Dividend per Share ( INR )	2,30	2,65
Yield	0,85%	0,74%
Reference price ( INR )	270	358.75

Note: Data collected from Internet (I am not sure about the accuracy)!

Weekly Chart

Daily Chart