GIC Providing Shelter to Bulls

GIC Housing finance has had a great bullish week and the rally was accompanied with upsurge in volume.

Stock made high on closing basis on 13 Aug whereas on 16th Aug it made intraday high. But on both instance the volume was lower than preceeding week when price was lesser than these two days. The occurance of high with lower volume is a precuser of impending fall and thats what happened 16th onwards.

A slight correction was expected and since MACD crossover has happened above the zero line its still bullish  it may find a support at 137-138 level where new position can be made.

I suggest GIC housing finance a bullish counter that can be bought on dips.

Gap Filling

Its been more than a week. I apologise to all of you for being out for the whole week. Its really unprofessional. Yea, Am sorry guys.

So scenerio is changed since we departed. The declension of  Reliance, Cairn-Vedanta nupital knot, Punj lloyd poor show and ascent of SBI left the Index bewildered. Guys give me couple of hours to compile some new stuff for you.

GE SHIP Lost the Anchor

GE Ship has showed strength in the last 3 trading sessions. It faced a strong resistence at 302-308 level and that level has been breached with comparitively higher volume suggest an upsurge. Besides the stock is in long term up trend so I would suggest to buy GE Ship on dips. Technicaly its strong trend since its making higher lows.

Sugar Get Sweeter

Balrampur Chini, Bajaj Hindustan and Renuka Sugar are some of the key sugar player coming out of bearish phase after a long time. There might be some fundamental reasons agrravating and initiating a rally (news of deregulation of Sugar Sector) but technically charts shows a short term rally of these 3 sugar stocks.

Bajaj Hind has breached 20 SMA after a long time. GOOD. Expecting a mimimal 38.2% retracement we can really expect a good short term rally.