Trading Calls - Aug 20 2010
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Friday, August 20, 2010
KS Oils
We recommend a buy in the stock of KS Oils from a short-term perspective. It is evident from the charts that after encountering a key long-term resistance in the band between Rs 75 and Rs 77 in January 2010, it started declining. However, this intermediate-term down move was arrested at the stock's significant long-term support zone between Rs 50 and Rs 52 in late July. Subsequently the stock bounced up and has been on a short-term up-move. This trend reversal has been supported by positive divergence displayed in the daily moving average convergence divergence oscillator. On August 19, the stock advance 4 per cent crossing over its 21-day moving average. The volume on that session was good. The daily relative strength index has bounced up from 40 levels and is rising towards bullish zone. The daily MACD has signalled a buy. Our short-term outlook on the stock is positive. We anticipate the stock to rally until it hits our price target of Rs 57.5 or Rs 59 in the upcoming trading sessions. Short-term traders can buy the stock while maintaining stop-loss at Rs 53.
via BL
Stocks may weaken at start
Headlines for the day:
Fiat JV revival becomes a priority for Tata Motors
RIL-NTPC dispute over D6 heading for truce
ACIL gets 45 acre for organic contract farming
US stocks submerged in red
Weak economic data rattle stocks for entire day
Weak set of economic data rattled US stocks for the entire day on Thursday, 19 August 2010. Stocks started and ended the day in the red. The day was heavy with economic reports and all checked in worse than expected thereby questioning the pace of global recovery for last year's recession.
Bullion metals end mixed once again
Weak economic data pull up gold
Bullion metal prices ended mixed once again on Thursday, 19 August 2010 at Comex. Gold prices ended marginally higher while silver prices slipped. Gold prices rose as weak economic data increased the appeal of commodities as a hedge against inflation. On the other hand, silver dropped as dollar strengthened.
Base metals weaken
Weak economic data take their toll on base metals
Copper prices ended lower on Thursday, 19 August 2010. Prices dropped due to weak set of economic reports and strong dollar.
Crude continues to slide down
Prices drop due to weak economic data
Crude prices dropped again on Thursday, 19 August 2010. Prices fell due to a spate of weak economic data that hit Wall Street on Thursday.
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