Today Tata Motors opened @ 770.50 High : 810 Low : 768.05 & the Close : 800.10
Target of 810 was acheived today!!!!! Please see the past post : http://dynamictrading.blogspot.com/2006/02/tata-motors-possible-elliott-wave.html which was on Feb 8th, 2006.
Please see the attached chart for more details:
Bse Metal Index has a good support @ 6887 also made a double top, though not a perfect one!!!!! Still it can be safely said to be a double top. A real test is @ 6887, it will be a make or break kind of a situation.
Southern Iron is making a falling WEDGE on the daily charts.
On monthly charts the retracement works out to Rs 13 which is 0.618 of the range from Rs 2.15 to the top of Rs 32.50, which is also near the lower trendline of the falling Wedge.
Good long term investment around Rs 13.00
Please check the chart for more details.
In very basic terms, RPS is a top down stock selection method. Stocks from different sectors expected to outperform the rest of the market are identified, and then stocks from these sectors are selected. The belief is that if you can select securities in superior sectors, these securities will perform along with their respective sectors. This follows the truth that money flows from underperforming areas of the market, to more profitable areas.
The best way to compare the strength of one security against a market index is to use the Relative Strength Comparison (RSC). The RSC actually compares a security's price change with that of a "base" or benchmark security. (in this case the SENSEX)
• If the RSC is increasing, it indicates that the security is performing better than the base security.
• If it moves sideways, it indicates that both securities are performing the same.
• If it is decreasing, it indicates that the security is performing worse than the base security.
It is important to note that just because the RSC may be rising in value, doesn’t mean the security is necessarily rising in value too. It simply indicates that the security is performing better than the base security. For example, a security may be falling in price however it may not be falling as fast as the base security, the result being that the RSC would strengthen. Conversely, if the RSC is falling the security may not be reducing in value; instead it may be that it’s increasing at a slower rate than the base security.
Interpretation of the results:Interpreting the results is easy: a value greater than zero indicates that the market sector is outperforming the base index. A zero indicates that the market sector is performing on par with the base index, while a negative number indicates the market sector is underperforming the base index.
Remember a rising RSC value only indicates that the market sector is outperforming the base index. Sometimes if the RSC is rising in value, so too is the market sector. However, this isn’t always the case. Similarly, if the RSC is falling the market sector may not be reducing in value; it only indicates that it is underperforming the market index. This illustrates how important it is to also open the chart of the market sectors to analyse the trend.
To sum it up:The RSC is a great way to utilise the power for Trading. Furthermore, it can be an extremely effective tool in identifying profitable trading opportunities. The downside for this type of system is that it is not a complete on its own and would need to be combined with other entry, exit and money management rules.
The potential is there however to create a very solid trading system that includes sector analysis.
| NAME | CLOSE | % RISE | TICKER |
| Artefact Softwar | 66.5 | 82.9732 | 531297 |
| Fortune Financial Services | 73.1 | 57.1017 | 530023 |
| Starmax Infomedia ltd. | 139.45 | 55.6639 | 532342 |
| Pratappur Sugar | 150.65 | 54.1188 | 507500 |
| ANG Exports Ltd. | 220.05 | 54.1067 | 530721 |
| Nesco Ltd | 1590.65 | 52.5627 | 505355 |
| Guj.Investa Ltd | 17.1 | 52.1157 | 531341 |
| Anant Raj Inds. | 505.05 | 51.0267 | 515055 |
| RIDHI SIDHI | 196.15 | 50.9847 | 524480 |
| JOSTS ENG CO | 300.05 | 49.7807 | 505750 |
| ZENITH INFO | 120.7 | 48.2434 | 532298 |
| Lakshmi Overs.In | 735.45 | 45.1132 | 519570 |
| Himadri Chem.&I | 151.25 | 44.2737 | 500184 |
| Eastern Silk In | 120.7 | 43.1999 | 514246 |
| Vaspar Cont. | 83.9 | 43.0332 | 530063 |
| Flexo Film Wrap | 39.7 | 42.9092 | 507796 |
| DS Kulkarni Ltd | 285.25 | 41.9074 | 523890 |
| B F UTILITY | 750.75 | 40.8617 | 532430 |
| SANGHI MOVERS | 652.4 | 40.6854 | 530073 |
| Zenith Computer | 89.45 | 40.3058 | 517164 |
| SHAKTI MET-D | 188 | 40.1329 | 526510 |
| Kamat Hotels (I) | 210.05 | 38.4127 | 526668 |
| Siyaram Silk Lt | 562.5 | 37.3379 | 503811 |
| SHILPA MEDIC | 390 | 36.9109 | 530549 |
| Unitech Ltd | 1420.05 | 36.3192 | 507878 |
| Voltas Ltd. | 805.35 | 35.849 | 500575 |
| Rel.Inds.Infra | 453.2 | 35.7809 | 523445 |
| Gestetner(India | 298.95 | 33.4841 | 509698 |
| Indo Asian Fuse | 126.7 | 33.1214 | 517318 |
| Pennar Profiles | 57.35 | 32.9123 | 513309 |
| Paramount Commu. | 165.2 | 32.8126 | 530555 |
| TAJ GVK HOTELS | 236.75 | 32.3542 | 532390 |
| Arun Agro Prod. | 145 | 32.2492 | 531777 |
| Patel Engg | 433.8 | 32.0176 | 531120 |
| ABG Heavy Ind. | 326.15 | 32.0129 | 520155 |
| Jyoti Ltd | 127.35 | 31.2346 | 504076 |
| Kei Indust. | 320 | 30.493 | 517569 |
| Jindal Iron | 427.4 | 30.4296 | 500107 |
| Gemini Communications Ltd | 295.7 | 30.2368 | 532318 |
| TECHNO ELEC | 217.7 | 29.8018 | 505397 |
| Greenply Indus | 118.95 | 29.6145 | 526797 |
| Bharat Earth Mo | 1444.8 | 29.2092 | 500048 |
| Balrampur Chini | 153.9 | 28.7584 | 500038 |
| Cubex Tubing | 53.05 | 27.3123 | 526027 |
| IL & FS Investment Managers Ltd | 179.85 | 27.0743 | 511208 |
| Ceekay Daikin | 148.65 | 26.9704 | 505923 |
| Kemrock Ind. Ltd | 94.45 | 26.391 | 526015 |
| Manugraph India Ltd | 282.55 | 25.8808 | 505324 |
| Dalmia Cement(Bh | 242 | 25.7838 | 500097 |
| Ansal Propertie | 443.2 | 25.3991 | 500013 |
| NAME | Volume | Pre-Volume | % Rise in Vol | Close | Pre-Close | TICKER |
| Jayashree Tea | 5899056 | 128722 | 97.8179 | 165.35 | 105.75 | 509715 |
| Warren Tea Ltd | 886457 | 22062 | 97.5112 | 120.55 | 87.2 | 508494 |
| William Magor | 2160294 | 57107 | 97.3565 | 71.5 | 41.8 | 519224 |
| Marathon Nextgen Realty & Text | 12300 | 500 | 95.935 | 261.25 | 248.85 | 503101 |
| Sam Industries | 4404 | 200 | 95.4587 | 17.05 | 16.9 | 532005 |
| Harr. Malayalam | 7440718 | 409271 | 94.4996 | 152.45 | 109.25 | 500467 |
| CRISIL Ltd | 20622 | 1217 | 94.0985 | 1549.55 | 1525 | 500092 |
| Gammon India Lt | 4302484 | 301455 | 92.9935 | 519.6 | 516.25 | 509550 |
| Aban Loyd Chile | 803011 | 58375 | 92.7305 | 833.4 | 596.7 | 523204 |
| Wallfort Fincl. | 12676 | 1084 | 91.4484 | 34.5 | 23.7 | 532053 |
| Pudumjee Agro | 91754 | 7958 | 91.3268 | 39.05 | 30.5 | 516092 |
| CIL Securits Ltd | 31105 | 3414 | 89.0243 | 13.12 | 12 | 530829 |
| B & A Ltd. | 144784 | 15907 | 89.0133 | 43.8 | 38.2 | 508136 |
| Videocon Applia | 2077048 | 267396 | 87.1262 | 32.65 | 27.05 | 500945 |
| WOOLITE MERC | 210216 | 28080 | 86.6423 | 21.1 | 20.75 | 512217 |
| NRB Bearings | 94605 | 12645 | 86.6339 | 502.8 | 446 | 530367 |
| SIC Agency Ltd | 250585 | 33774 | 86.5219 | 443.25 | 438.75 | 520086 |
| Goetze (India) | 290855 | 40787 | 85.9769 | 232.3 | 208.85 | 505744 |
| SAHARA I MEDIA COMM | 14378 | 2017 | 85.9716 | 290 | 287 | 503691 |
| Indo Asian Fianc | 7598 | 1099 | 85.5357 | 15.53 | 14.99 | 530747 |
| Perfect Circle | 177470 | 29808 | 83.2039 | 28.05 | 22.05 | 505789 |
| POLYCON INTE | 521 | 90 | 82.7255 | 14.7 | 13.95 | 531397 |
| Benares Hotels | 11125 | 2009 | 81.9416 | 373.8 | 365 | 509438 |
| Jubilant Organosys Ltd. | 145918 | 26508 | 81.8336 | 1082.8 | 1073.85 | 530019 |
| Raghav Industries Ltd | 8633 | 1624 | 81.1885 | 30.3 | 25 | 526465 |
| Ruchi Soya Inds | 2186104 | 424006 | 80.6045 | 317.85 | 283.05 | 500368 |
| Gandhi Special | 174009 | 33989 | 80.4671 | 159.7 | 150.6 | 513108 |
| Maha. Ind | 250 | 50 | 80 | 68.85 | 66.3 | 505523 |
| MRF Ltd | 42027 | 8452 | 79.8891 | 3262.25 | 2800 | 500290 |
| JCT Ltd | 19437472 | 3938971 | 79.7352 | 13.08 | 11.77 | 500223 |
| Zuari Indus.Ltd | 734973 | 151667 | 79.3643 | 156.6 | 136.2 | 500780 |
| Sharyans Resour | 302030 | 63434 | 78.9975 | 186.35 | 155.4 | 511413 |
| Philips Carbon | 625053 | 132634 | 78.7804 | 72.25 | 61.4 | 506590 |
| SEIL Limited | 1081500 | 233757 | 78.3859 | 56.5 | 56.1 | 523371 |
| SOUTH INDIA BANK | 1030022 | 229904 | 77.6797 | 71.05 | 67.8 | 532218 |
| INDO GREEN P | 192530 | 43540 | 77.3853 | 23.2 | 19.1 | 531968 |
| Multi Arc india | 324870 | 76206 | 76.5426 | 87.5 | 84.15 | 513685 |
| GALAXY MULTI | 236789 | 55769 | 76.4478 | 16.44 | 13.6 | 532380 |
| Jayant Agro | 256347 | 61382 | 76.0551 | 180.65 | 165.05 | 524330 |
| BIO PACK INDIA | 56780 | 13657 | 75.9475 | 35.8 | 26.2 | 532230 |
| SOUTHERN PETRO | 14221941 | 3433430 | 75.8582 | 15.6 | 13.54 | 500758 |
| Sintex Inds. Ltd | 443905 | 110367 | 75.1372 | 171.85 | 162.1 | 502742 |
| Suryajyoti Spg. | 574526 | 142918 | 75.1242 | 41.85 | 33.1 | 521022 |
| Glofame Cotspin Industries Ltd. | 140183 | 34983 | 75.0448 | 37.65 | 33.35 | 532472 |
| Ledo Tea Compan | 83510 | 20848 | 75.0353 | 67.35 | 48.65 | 508306 |
