Technical Analysis Report Date :
19/12/2013
Presented by : STRIKERS Group
Under the Guidance of Mr. Jatin Sanghavi
Technical Analysis of Finolex Cables Limited
GRADE :
TEAM -- STRIKERS Senior Leader Vikas Chaudhari
Team Leader Devang K. Shah
Vice Captain Minal Udeshi
Team Members Sudhir Anchan
Team Members Kartik G
Team Members Pradeep J
Finolex Cables Limited Company Profile : Finolex Cables Ltd, the flagship company of the
Finolex Group was established in 1958 in Pune. Today, it is India's largest and leading manufacturer of electrical and telecommunication cables with a turnover in excess of Rs.16 Billion (about US $ 320 million).
Traded As BSE: 500144 / NSE: FINCABLES
Industry Cables
Current market price INR
79 (19/12/2013)
Website http://www.finolex.com/
Trading Analysis: BUY Finolex Cables Limited
Term Trading View
Target s- INR
Stop Loss – INR
Potential Profit %
Short Term Bullish 90 50 13.9%
Medium Term
Bullish 107 40 35.4%
Long Term Bullish 119 40 51.9%
BUY
DAILY CHART ANALYSISShort Term view : Target = Rs 90 & Stoploss = Rs 50
RISING WEDGE (Bullish Breakout)
BREAK OUT
- BUY
Higher Volume on Breakout
BUY
STOP LOSS
Calculation of Rising Wedge Target :
Confluence zone
DAILY CHART ANALYSIS
Height of Pattern : 66 - 42 = 24 Add to Breakout: 66 + 24 = 90 Target is 90 & StopLoss is the higher bottom in the pattern i.e 50
In Daily charts it is seen that the Confluence Zone made by Fibonacci Retracement levels of two major falls (coinciding at 61.8% and 161.8% levels) is at 91.
BREAK OUT- BUY
STOP LOSS
The Stock is above all the Moving Averages suggesting an uptrend
Stochastic Oscillator - %K cuts %D from Below and hence is in Buy Mode
MACD is in BUY mode On Balance Volume (OBV) is making higher highs and higher lows suggesting an uptrend
DAILY OSCILLATORS
Moving Averages
Stochastic Oscillator
OBVMACD
WEEKLY CHART ANALYSIS
INVERTED HEAD &
SHOULDER PATTERN
BREAK OUTBUY
SHOULDER SHOULDER
HEAD
Neck Line
Calculation of Inverted Head & Shoulder :• Height of the Head = (64-20) = 44• Add to Breakout: 63 + 44 = 107• Target as per H & S = 107• Stop Loss (SL) = Low of the right Shoulder = 40
BUY
STOP LOSS
Momentum - Oscillator ROC continues in Buy signal
ADX is at 32, suggesting that the Stock has strength. The Directional Indicators continue with its BUY signal as +DI remains above -DI
On Balance Volume (OBV) is making higher highs and higher lows suggesting an uptrend.
WEEKLY OSCILLATORS
The Stock is above all the Moving Averages suggesting an uptrend
Moving Averages ROC
OBVADX
Monthly Chart Analysis
RISING WEDGE (Bullish Breakout) BREAK
OUT
Calculation of Rising Wedge Target:
• Height of Pattern : 76.3- 19.3= 57• Add to Breakout: 62+ 57 = 119 • Target is 119 & Stop Loss is the 200
Monthly Moving Average = 40
BUY
Stop Loss= 200 Monthly
Moving Average =40
Daryl Guppy continues in Buy mode
On Balance Volume OBV is making higher highs and higher lows suggesting an uptrend
Moving Averages Daryll Guppy Indicator
MACDOBV
Monthly Oscillators
The Stock is above all the Moving Averages suggesting an uptrend
MACD is in BUY mode
The trend in short term, medium term and long term timeframe is positive.
In the daily and monthly chart there is a Rising Wedge Bullish Pattern.
In the weekly chart there is an Inverted Head and Shoulder Bullish Pattern formation .
The Daily, Weekly and Monthly Oscillators are supporting the stock to achieve the targets.
a. Target 1 : at Rs. 90 b. Target 2 : at Rs. 107 and c. Target 3 : at Rs. 119
Analysis Conclusion :
BUY
ありがとうArigatō
"thank you" in Japanese
Sincere heart felt thanks and acknowledgements :
We remain ever indebted to Jatin Sir’s untiring passion to teach technical analysis. His commitment and passion to this field is super contagious !
Special thanks to Vikas – our group’s senior advisor for always helping us whenever we have doubts and accelerating our learning.
Disclaimer :
The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned.
No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses.
Readers using the information contained herein are solely responsible for their actions.
Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness.All Rights Reserved - Copyright 2013