These Stocks Have Risen Over 45% In 5 Weeks

These Stocks Have Risen Over 45% In 5 Weeks

Kiran Shroff  | Oct 11, 2018 13:26

Nifty 50 index has fallen over 10 percent from its highest close of 11739 points. Markets are trying to recover and expecting to find a safe ground. However, two stocks have been holding well during this entire time and have in fact risen by more than 45 percent since August 28.

Praj Industries (NS:PRAJ) Limited, Close: 107.75

Praj Industries Limited does not show any clear trend in the medium term chart, but is clearly inside a rising trend channel in the long term chart. Since its bottom in early July, the stock has risen by more than 45 per cent on the closing basis. This rise in price has been clearly supported by increasing volume making the volume balance indicator positive.
The stock is trading above its previous resistance of 102 rupees and the next resistance is around 128, which is 18 per cent higher than today's closing price. On the downside there is support around 102 and then by 85 rupees. The stock is overall assessed as technically positive for the medium term.

Investtech's outlook: Positive

Dhampur Sugar Mills Limited, Close: 157.80


Dhampur Sugar Mills Limited has broken up from the falling trend channel in the medium term and reacted strongly up. For the time being, it is difficult to say anything about the future trend direction, but the higher tops and higher bottoms can be an early sign of a major trend reversal, to the positive.

The stock has almost doubled since its bottom in late July and is now trading inside the rising trend channel in the long-term chart. The volume balance indicator is very positive, indicating that the buyers have been aggressive while the sellers have been passive. The momentum indicator RSI curve is rising, which is again a positive sign. The stock has support around 148 rupees in the short term and at 105 in the medium term. Resistance is around 180 and then at 266 rupees.
The stock has been very volatile with over 29 % on an average basis.

The analyses are based on closing price as per October 10, 2018. Maintaining proper stop loss is always recommended.

Original Post

Written by,
Kiran Shroff, CMT

Disclaimer: All analyses used herin are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading.

Kiran Shroff

Related Articles

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
kaisar imam
kaisar imam

no one can trade in past after shares has grown already  no one can benefit of that. key is to predict future and how accurately it can be done on consistent basis is key to success  ... (Read More)

Oct 11, 2018 13:37 GMT· 3 · Reply

Superb, excellent post ..... all the sugar stocks have moved up; if possible look at balrampurchini and share chart like dhampur as my purchase is 68 rs and today it has touched 100rs still holding  ... (Read More)

Oct 11, 2018 09:01 GMT· Reply
Write a reply...
Please wait a minute before you try to comment again.

Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Trading or investing in cryptocurrencies carries with it potential risks. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Cryptocurrencies are not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument or cryptocurrencies you should carefully consider your investment objectives, level of experience, and risk appetite.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures), Forex and cryptocurrencies prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (Canada) English (Australia) English (South Africa) Deutsch Español (España) Español (México) Français Italiano Nederlands Polski Português (Portugal) Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 中文 香港 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes