TRW WEEKLY REPORT FOR 11TH-15TH JANUARY 2010

The market succumbed on an impressive buying pressure this week as the NSE ALL SHARES index gapped up on a Bullish rally closing at 21,658.69 points. The week started with a wide range day on Monday as traders returned from the christmas holiday. The following day there was a sharp gap higher which took the indexes above its 25 day moving Average. The following three days had the markets probing new highs. By the end of the week, the market had recovered all the December losses back to its November highs of 21,635.40.
TECHNICAL VIEW
This coming week will be very crucial as most of the stocks are trading within resistance line of a 65 day moving Average with chart patterns forming DOUBLE TOP in an  OVERBOUGHT RSI region with possibility of a reversal.

Bottom Line
We will see how the market will digest some of the recent rally and important to see how the market indexes deal with resistance levels and whether buyers will continue to buy at these current high trend. There are definitely some weak spots in the charts, but price action remains in an overall uptrend. Traders should remain patient, yet cautious at these levels, as the longer term patterns are in flux with near term action. Use the "TRW STOCKBROKERS STOCKS WATCH LIST FOR MULTIPLE TIME FRAME OF DAILY, WEEKLY & MONTHLY" as a guide to know what Time frame you want to trade.

HAVE A NICE TRADING WEEK

You want to learn more on RSI....
 http://www.investopedia.com/articles/technical/071601.asp

WEEKLY INDEX

Ticker Date/Time Previous Price Weekly
NSE 08/01/2010   20,827.17   21,658.69 3.99
NSE 30 08/01/2010 827.99 860.34 3.91
NSE BANKING 08/01/2010 339.32 353.81 4.27
NSE F&B 08/01/2010 526.71 544.78 3.43
NSE INS 08/01/2010 249.01 238.21 -4.34
NSE O&G 08/01/2010 288.06 292.46 1.53

 

 RSI OVERBOUGHT REGION
Ticker RSI Ticker RSI  Ticker RSI 
NBC   100.00 NB   99.46 FTNCOCOA   97.46
BCC   100.00 FIRSTBANK   99.29 UNILEVER   97.39
AP   100.00 BIGTREAT   99.22 AFRIBANK   96.96
DANGFLOUR   100.00 MAYBAKER   99.03 ACCESS   96.47
OCEANIC    99.97 FLOURMILL   98.94 STARCOMMS   95.87
UPL    99.97 NEIMETH   98.92 UAC-PROP   94.95
WEMABANK    99.96 COSTAIN   98.90 BAGCO   94.70
NASCON    99.95 REDSTAREX   98.65 OANDO   93.10
NAHCO    99.94 ZENITHBANK   98.57 FCMB   92.93
CHAMS    99.92 ASOSAVINGS   98.39 GUARANTY   92.42
PLATINUM    99.72 TANTALIZER   98.28 INTENEGINS   89.13
FIRSTINLND    99.64 UNHOMES   98.21 INTERCONT   86.55
STDINSURE    99.60 ASHAKACEM   98.04 UBN   86.47
CONOIL    99.47 UNITYBNK   97.68 JBERGER   84.38
 
WEEKLY GAINERS
Ticker Date Previous Price %Change
NASCON 08/01/2010        4.35        5.52      26.90
DANGFLOUR 08/01/2010        9.93      12.56      26.49
OCEANIC 08/01/2010        1.69        2.13      26.04
PLATINUM 08/01/2010        1.32        1.65      25.00
BIGTREAT 08/01/2010        0.63        0.78      23.81
CHAMS 08/01/2010        0.57        0.70      22.81
STDINSURE 08/01/2010        0.55        0.66      20.00
WEMABANK 08/01/2010        0.93         1.11      19.35
INTERCONT 08/01/2010         1.61        1.90       18.01
ASOSAVINGS 08/01/2010        0.56        0.66      17.86
UNHOMES 08/01/2010        0.85        1.00      17.65
TANTALIZER 08/01/2010        0.77        0.89      15.58
FTNCOCOA 08/01/2010        0.52        0.60      15.38
ASHAKACEM 08/01/2010       11.55      13.30       15.15
UNILEVER 08/01/2010      18.50      21.05      13.78
JAPAULOIL 08/01/2010         1.13        1.28      13.27
UNITYBNK 08/01/2010        0.84        0.95       13.10
AFRIBANK 08/01/2010        2.55        2.88      12.94
BAGCO 08/01/2010        1.45        1.62       11.72
FIRSTINLND 08/01/2010        0.53        0.59       11.32
REDSTAREX 08/01/2010        2.15        2.39       11.16
COSTAIN 08/01/2010        3.80        4.20      10.53
NBC 08/01/2010      21.42      23.64      10.36
CONOIL 08/01/2010      27.63      30.46      10.24
MAYBAKER 08/01/2010        3.86        4.25       10.10
STERLNBANK 08/01/2010        1.23        1.34        8.94
NAHCO 08/01/2010        7.18        7.80        8.64
STARCOMMS 08/01/2010        1.75        1.90        8.57
FLOURMILL 08/01/2010      36.00      39.00        8.33
BCC 08/01/2010      43.01      46.50         8.11
ZENITHBANK 08/01/2010      13.60      14.67        7.87
NB 08/01/2010      53.02      57.00        7.51
ACCESS 08/01/2010        7.60         8.11        6.71
UBN 08/01/2010        6.00        6.40        6.67
JBERGER 08/01/2010      25.79      27.47        6.51
NEM 08/01/2010        0.52        0.55        5.77
FIRSTBANK 08/01/2010      14.05      14.80        5.34
AIICO 08/01/2010        0.79        0.83        5.06
UPL 08/01/2010        4.97        5.21        4.83
FCMB 08/01/2010        7.16        7.50        4.75
FIDELITYBK 08/01/2010        2.40        2.50        4.17
CORNERST 08/01/2010        0.52        0.54        3.85
UBA 08/01/2010      10.80       11.20        3.70
NEIMETH 08/01/2010        1.50        1.55        3.33
GUARANTY 08/01/2010      15.50       16.01        3.29
UAC-PROP 08/01/2010      19.86      20.50        3.22
AP 08/01/2010      33.51      34.51        2.98
INTENEGINS 08/01/2010        0.63        0.64        1.59
SKYEBANK 08/01/2010        5.49        5.56        1.28
UACN 08/01/2010      36.75      37.06        0.84
CUSTODYINS 08/01/2010        2.86        2.88        0.70
PZ 08/01/2010      25.00      25.10        0.40
GUINNESS 08/01/2010    127.50    128.00        0.39
WEEKLY LOSERS
Ticker Date/Time Previous Price %Change
VITAFOAM 08/01/2010        5.65        5.02 -11.15
CRUSADER 08/01/2010        1.57        1.43 -8.92
CILEASING 08/01/2010        2.60        2.40 -7.69
LASACO 08/01/2010        0.59        0.56 -5.08
PRESTIGE 08/01/2010        4.00        3.80 -5
UNIC 08/01/2010         1.10        1.05 -4.55
CONTINSURE 08/01/2010         1.15         1.10 -4.35
DANGSUGAR 08/01/2010       15.10      15.00 -0.66
IBTC 08/01/2010        7.47        7.45 -0.27

 

For 8/01/2010 the closing price was 21,658.68.(NSE INDEX)
Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 22,120.63.
The projected lower bound is: 21,156.97.
The projected closing price is: 21,638.80.
Note: these price projections are for reference only, and can be easily exceeded by the market.

For 8/01/2010 the closing price was 860.34(NSE30)
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 878.74.
The projected lower bound is: 841.82.
The projected closing price is: 860.28.
Note: these price projections are for reference only, and can be easily exceeded by the market.
 

For 8/01/2010 the closing price was 353.81.(NSE BANKING)
Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 367.77.
The projected lower bound is: 339.12.
The projected closing price is: 353.45.
Note: these price projections are for reference only, and can be easily exceeded by the market.

 

For 8/01/2010 the closing price was 544.78.(NSE FOOD BEV & TOBACCO)
Overall, the bias in prices is: Upwards.
Short term: Prices are Moving.
Intermediate term: Prices are trending.
By the way, prices are vulnerable to a correction towards 503.97.
The projected upper bound is: 559.01.
The projected lower bound is: 533.33.
The projected closing price is: 546.17.
Note: these price projections are for reference only, and can be easily exceeded by the market.

For 8/01/2010 the closing price was 249.64.(NSE INSURANCE)
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 243.06.
The projected lower bound is: 230.65.
The projected closing price is: 236.85.
Note: these price projections are for reference only, and can be easily exceeded by the market.

For 8/01/2010 the closing price was 292.460.(NSE OIL & GAS)
Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the downside.
Prices are vulnerable to a correction towards 292.66.
The projected upper bound is: 296.93.
The projected lower bound is: 287.51.
The projected closing price is: 292.22.
Note: these price projections are for reference only, and can be easily exceeded by the market.
 

Below are TRW STOCKBROKERS STOCKS WATCH LIST FOR MULTIPLE TIME FRAME OF DAILY, WEEKLY & MONTHLY
SHORT TREND TRADERS TO USE MA 5
MEDIUM TREND TRADERS TO USE MA-50
LONG TERM TRADERS TO USE MA-100
MA (MOVING AVERAGE)

Ticker Date MA-100 MA-50 MA-5 Overall Trend Trend Phase Comments
ACCESS 08/01/2010 + + + Up Trend Initial Stay with Trend
AFRIBANK 08/01/2010 - - + No Trend Initial Risk for short term reversal
AIICO 08/01/2010 - - + No Trend Initial Risk for short term reversal
AP 08/01/2010 - - + No Trend Initial Risk for short term reversal
ASHAKACEM 08/01/2010 - + + + No Trend Initial live to trade another day
ASOSAVINGS 08/01/2010 - - + No Trend Initial Risk for short term reversal
BAGCO 08/01/2010 - + + No Trend Initial live to trade another day
BCC 08/01/2010 - + + + + No Trend Initial live to trade another day
BIGTREAT 08/01/2010 - - + No Trend Progress Risk for short term reversal
CHAMS 08/01/2010 - + + No Trend   live to trade another day
CILEASING 08/01/2010 - - - Down Trend Initial Watch Trend
CONOIL 08/01/2010 - - + + No Trend Progress Risk for short term reversal
CONTINSURE 08/01/2010 - - - Down Trend Initial Watch Trend
CORNERST 08/01/2010 - - + No Trend Progress Risk for short term reversal
COSTAIN 08/01/2010 - + + No Trend Initial live to trade another day
CRUSADER 08/01/2010 - + - No Trend Initial trading range-avoid
CUSTODYINS 08/01/2010 + + + Up Trend Initial Stay with Trend
DANGFLOUR 08/01/2010 + + + + Up Trend Initial Stay with Trend
DANGSUGAR 08/01/2010 - + - No Trend Initial trading range-avoid
DIAMONDBNK 08/01/2010 + -   No Trend Initial live to trade another day
FCMB 08/01/2010 + + + Up Trend Initial Stay with Trend
FIDELITYBK 08/01/2010 + + + Up Trend Initial Stay with Trend
FIRSTBANK 08/01/2010 - - + No Trend Initial Risk for short term reversal
FIRSTINLND 08/01/2010 - - + No Trend Progress Risk for short term reversal
FLOURMILL 08/01/2010 + + + + + Up Trend Initial Stay with Trend
FTNCOCOA 08/01/2010 - - + No Trend   Risk for short term reversal
GUARANTY 08/01/2010 + + + Up Trend Progress Stay with Trend
GUINEAINS 08/01/2010 -     Down Trend Initial Watch Trend
GUINNESS 08/01/2010 - - + No Trend Initial Risk for short term reversal
HMARKINS 08/01/2010 -     Down Trend Initial Watch Trend
IBTC 08/01/2010 - - - Down Trend Initial Watch Trend
INTENEGINS 08/01/2010 - - + No Trend Progress Risk for short term reversal
INTERCONT 08/01/2010 - - + No Trend Initial Risk for short term reversal
JAPAULOIL 08/01/2010 - + + No Trend Progress live to trade another day
JBERGER 08/01/2010 - + + + No Trend Initial live to trade another day
LASACO 08/01/2010 - - - Down Trend Initial Watch Trend
MAYBAKER 08/01/2010 - - + No Trend Initial Risk for short term reversal
MBENEFIT 08/01/2010 -     Down Trend Initial Watch Trend
MULTIVERSE 08/01/2010 -     Down Trend Initial Watch Trend
NAHCO 08/01/2010 - - + No Trend Initial Risk for short term reversal
NASCON 08/01/2010 + + + Up Trend Initial Stay with Trend
NB 08/01/2010 + - + + + No Trend Initial trading range-avoid
NBC 08/01/2010 - + + + No Trend Initial live to trade another day
NEIMETH 08/01/2010 - - + No Trend Initial Risk for short term reversal
NEM 08/01/2010 -   + No Trend Initial Risk for short term reversal
NESTLE 08/01/2010 + + + +   No Trend Progress Risk for short term reversal
NIGERINS 08/01/2010 - -   Down Trend Initial Watch Trend
OANDO 08/01/2010 +     No Trend Initial live to trade another day
OCEANIC 08/01/2010 - - + No Trend Progress Risk for short term reversal
PLATINUM 08/01/2010 - - + No Trend Progress Risk for short term reversal
PRESTIGE 08/01/2010 - - - Down Trend Initial Watch Trend
PZ 08/01/2010 + + + Up Trend Initial Stay with Trend
REDSTAREX 08/01/2010 - + + No Trend Initial live to trade another day
REGALINS 08/01/2010 -     Down Trend Initial Watch Trend
SKYEBANK 08/01/2010 - - + No Trend Initial Risk for short term reversal
SOVRENINS 08/01/2010 -     Down Trend Progress Watch Trend
STARCOMMS 08/01/2010 - - + No Trend Initial Risk for short term reversal
STDINSURE 08/01/2010 - - + No Trend Initial Risk for short term reversal
STERLNBANK 08/01/2010 +   + No Trend Initial trading range-avoid
TANTALIZER 08/01/2010 + + + Up Trend Initial Stay with Trend
UAC-PROP 08/01/2010 + - + No Trend Initial trading range-avoid
UACN 08/01/2010 - - + No Trend Initial Risk for short term reversal
UBA 08/01/2010 - - + No Trend Initial Risk for short term reversal
UBN 08/01/2010 - - + No Trend Initial Risk for short term reversal
UNHOMES 08/01/2010 - - + No Trend Initial Risk for short term reversal
UNIC 08/01/2010 + + - No Trend Initial Risk for short term reversal
UNILEVER 08/01/2010 + + + + Up Trend Progress Stay with Trend
UNITYBNK 08/01/2010 - - + No Trend Initial Risk for short term reversal
UPL 08/01/2010 - + + No Trend Initial live to trade another day
VITAFOAM 08/01/2010 + + - No Trend Initial Risk for short term reversal
WAPCO 08/01/2010 - -   Down Trend Initial Watch Trend
WAPIC 08/01/2010 - -   Down Trend Progress Watch Trend
WEMABANK 08/01/2010 - - + No Trend Progress Risk for short term reversal
ZENITHBANK 08/01/2010 + + + Up Trend Initial Stay with Trend

 
This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. TRW accepts no liability whatsoever for any loss arising from any use of this expert or its contents.
 
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