Trading the Technicals

[tanewbie]

Traderji kindly have a look at sci chart. symmetrical triangle?

 

[Traderji]

Re: shipping corp

Symmetrical Triangle

The symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape.

At least 2 points are required to form a trendline and two trendlines are required to form a symmetrical triangle. Therefore, a minimum of 4 points are required to begin considering a formation as a symmetrical triangle. The second high (4) should be lower than the first (2) and the upper line should slope down. The second low (3) should be higher than the first (1) and the lower line should slope up. Ideally, the pattern will form with 6 points (3 on each side) before a breakout occurs.

Looking at the chart of SCI, it does not look like a breakout of a symmetrical triangle pattern.

It looks more like a breakout of a downward sloping line.

See attached chart

 

[tanewbie]

amtek auto breakout?

Amtek auto surged on huge volumes. something cooking there! Delivery vols shot up fr 32k to 399k. see attached chart.

Traderji your comments?

 

[Traderji]

Re: amtek auto breakout?

Good call tanewbie,

Amtek has indeed broken out on very BIG volumes.

One can BUY this stock with a stoploss at 510.00.

I personally do not trade this stock because it is very thinly traded.

One can look for a target of 700.00-750.00 (its previous top in May 2004).

 

[tanewbie]

Colgate-smile is returning!

Colgate crosses 200day mov average on more than twice the 200day moving average of volumes. Very bullish indeed! what do you say Traderji?

 

[Traderji]

Re: Colgate-smile is returning!

Good call tanewbie,

Colgate - Friday's close was above Rs. 140.00 on BIG volumes.

I guess one can start nibbling at this stock now!

 

[tanewbie]

Sweet Pick- Andhra Sugars

Andhara sugar crosssed 200dma with 1.3 times the volumes of 200dma (vol). Also the deliveries have increased from 10770 to 49737.Its on the verge of breaking out of symmetrical triangle. Potential upside is 10% atleast

Traderji your comments please.

 

[tanewbie]

Jupiter bio sciences......

seems to have woken up! ee attached chart.

 

[Traderji]

Re: Jupiter bio sciences......

You are correct tanewbie,

Jupiter bio seems to be beginning a new uptrend.

Can somebody do a research on the fundamentals of this company and post them here!

Thanks.

 

[tanewbie]

Re: Jupiter bio sciences......

Jupiter Bioscience was incorporated in 1985 as a Private Limited company converted into Public Limited company in 1992, The company was founded by K S Sarma who is currently the Chairman. The company's plant are located at Medak District and in Bidar,Karnataka.

The company is having subsidiary SVEN Gentech was incorporated in 2000. It is setting up its research centre of 14000 Sq.Feet of which the first stage is in operation.

Jupiter Bioscience has introduced new products in Petide Precursors,Drug Intermediates and Speciality Chemicals. The expansion plans are being framed out for growth of business and to improve profitablity for the present as well as the future years.

Jupiter Biocience Ltd Profit & Loss A/c

--------------------------------------------------------------------------------
Rupees in Crores
Year Mar 03 Mar 02 Mar 01 Mar 00 Mar 99
Sales 61.56 54.45 46.10 19.10 11.75

Profit Before Tax 16.96 15.36 11.98 4.40 2.61
Tax 2.36 1.33 1.17 0.51 0.39
Profit After Tax 14.60 14.03 10.81 3.89 2.22

Equity Dividend (%) 18.00 16.50 15.00 10.00 0.00
Earning Per Share (Rs.) 16.25 15.84 12.03 4.39 4.48
Book Value 83.19 68.75 55.03 45.17 25.67

fy2004 NP 17.02 CRS