Category: MarketSmith India Stories

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Relaxo : A Footwear leader Racing North On Higher Volume

Relaxo Footwears  stock has cleared a 5-week, 14% deep Flat Base this week. Currently, the stock is trading around just 6% away from its ideal buy price of INR 975. The stock is offering investors an opportunity to get on board at the current price.

The stock ended the week on a bullish note. It closed 11.9% up on a 282% greater volume than the 10-week average. You want to see a strong close on heavy volume like this before initiating a position. That signals institutional buying. You would also want to see the same price volume momentum to continue in the coming weeks.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 11.56% away from the 10-week moving average.

In the last twelve months, Relaxo Footwears has rallied nearly 57.4% as compared to 68.4% for the Nifty500. It has a Relative Strength Rating of 58. We definitely would like see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If Relaxo Footwears can maintain this outperformance, it could make sense as a CANSLIM trade.

Another key part of the jigsaw is institutional sponsorship. Relaxo Footwears has an Accumulation/Distribution Rating of ‘A’. This represents heavy institutional buying over the past few weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.

On the earnings front, Relaxo Footwears has an excellent EPS Rank of 96, which indicates consistency in earnings. The earnings and sales for the stock have grown by 17% and 3%, respectively over the past three years. Its 3-years earnings stability is 7, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 17% and 8%, respectively. The 5-years earnings stability is 6. The return on equity for the last reported year is 21%.

The stock belongs to industry group of Apparel-Shoes & Rel Mfg. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 94. The current price of Relaxo Footwears is -5% off from its 52-week high price and 79% above it 52-week low price.

The stock appears on our idea lists: Minervini Trend Template – 5 Months 

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Bharat Electronics: A Defense Svcs Co Marching on Higher Volume

ICICI Bank: A Long Term Leader Breaking Out of a Cup With Handle

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ICICI Bank: A Long Term Leader Breaking Out of a Cup With Handle.

ICICI Bank stock has cleared a 13-week, 22% deep Cup With Handle Base this week. Currently, the stock is trading around just 3% away from its ideal buy price of INR 628. The stock is offering investors an opportunity to get on board at the current price.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 8.42% away from the 10-week moving average.

In the last twelve months, ICICI Bank has rallied nearly 120.7% as compared to 68.4% for the Nifty500. It has a Relative Strength Rating of 63. We definitely would like to see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If ICICI Bank can maintain this outperformance, it could make sense as a CANSLIM trade.

ICICI Bank stock has strong institutional support. The Accumulation/Distribution Rating of ‘A-‘ represents heavy institutional buying over the past 13 weeks. Although the shares held by institutions dropped in the last quarter, the number of institutions holding the stock increased at the same time. This shows increasing interest among the institutions.

On the earnings front, ICICI Bank has an excellent EPS Rank of 82, which indicates consistency in earnings. The earnings and sales for the stock have grown by 53% and 11%, respectively over the past three years. Its 3-years earnings stability is 28, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 6% and 10%, respectively. The 5-years earnings stability is 44. The return on equity for the last reported year is 14%.

The stock belongs to the industry group of Banks-Money Center. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 115. The current price of ICICI Bank is -5% off from its 52-week high price and 127% above its 52-week low price.

The stock appears on our idea lists: Trend Template – 5 Months.

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Bharat Electronics: A Defense Svcs Co Marching on Higher Volume.

Bharat Electronics stock has broken out of a 9-week, 25% deep Cup Without Handle Base 2-weeks ago. However, the stock is still offering investors an opportunity to get on board as the current price is only 1% away from the ideal buy price of INR 155.

The stock ended the week on a bullish note. It closed 9.9% up on a 84% greater volume than the 10-week average. You want to see a strong close on heavy volume like this before initiating a position. That signals institutional buying. You would also want to see the same price volume momentum to continue in the coming weeks.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 14.88 % away from the 10-week moving average.

In the last twelve months, Bharat Electronics has rallied nearly 150% as compared to 68.4% for the Nifty500. It has a Relative Strength Rating of 68. We definitely would like to see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If Bharat Electronics can maintain this outperformance, it could make sense as a CANSLIM trade.

Another key part of the jigsaw is institutional sponsorship. Bharat Electronics has an Accumulation/Distribution Rating of ‘A+’. This represents heavy institutional buying over the past few weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.

On the earnings front, Bharat Electronics has an excellent EPS Rank of 89, which indicates consistency in earnings. The earnings and sales for the stock have grown by 8% and 11%, respectively over the past three years. Its 3-years earnings stability is 11, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 36% and 15%, respectively. The 5-years earnings stability is 59. The return on equity for the last reported year is 18%.

The stock belongs to industry group of Aerospace/Defense. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 65. The current price of Bharat Electronics is -2% off from its 52-week high price and 156% above its 52-week low price.

The stock appears on our idea lists: Trend Template – 5 Months.

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Bajaj Finserv: Long Term Leaders Races North Towards 52-Week High.

Bajaj Finserv Ltd stock has broken out of a 10-week, 15% deep Consolidation Base 2-weeks ago. However, the stock is still worth watching as the current price is only 6% away from the ideal buy price of INR 10579.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 9.6% away from the 10-week moving average.

In the last twelve months, Bajaj Finserv Ltd. has rallied nearly 132.3% as compared to 61.1% for the Nifty500. It has a Relative Strength Rating of 70. We definitely would like see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If Bajaj Finserv Ltd. can maintain this outperformance, it could make sense as a CANSLIM trade.

Another key part of the jigsaw is institutional sponsorship. Bajaj Finserv Ltd. has an Accumulation/Distribution Rating of ‘B+’. This represents heavy institutional buying over the past few weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.

On the earnings front, Bajaj Finserv Ltd. has an excellent EPS Rank of 97, which indicates consistency in earnings. The earnings and sales for the stock have grown by 14% and 24%, respectively over the past three years. Its 3-years earnings stability is 7, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 17% and 36%, respectively. The 5-years earnings stability is 6. The return on equity for the last reported year is 13%.

The stock belongs to the industry group of Insurance-Brokers, which is exhibiting a fair amount of strength in the current market environment. The current industry group rank is 60. The current price of Bajaj Finserv Ltd. is -3% off from its 52-week high price and 175% above its 52-week low price.

The stock appears on our idea lists: Trend Template – 5 Months.

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Gail Ltd: A Gas Distribution Co Forming A 9-Week Cup Without Handle Base

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Gail Ltd: A Gas Distribution Co Forming A 9-Week Cup Without Handle Base

Gail (India) Ltd stock has cleared a 9-week, 19% deep Cup Without Handle Base this week. Currently, the stock is trading around just -6% away from its ideal buy price of INR 158. The stock is offering investors an opportunity to get on board at the current price.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 5.04% away from the 10-week moving average.

In the last twelve months, Gail (India) Ltd. has rallied nearly 78% as compared to 61.1% for the Nifty500. It has a Relative Strength Rating of 62. We definitely would like to see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If Gail (India) Ltd. can maintain this outperformance, it could make sense as a CANSLIM trade.

Gail (India) Ltd. stock has strong institutional support. The Accumulation/Distribution Rating of ‘A’ represents heavy institutional buying over the past few weeks. Although the shares held by institutions dropped in the last quarter, the number of institutions holding the stock increased at the same time. This shows increasing interest among the institutions.

On the earnings front, Gail (India) Ltd. has an excellent EPS Rank of 83, which indicates consistency in earnings. The earnings and sales for the stock have grown by 25% and 5%, respectively over the past three years. Its 3-years earnings stability is 10, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 40% and 8%, respectively. The 5-years earnings stability is 17. The return on equity for the last reported year is 20%.

The current price of Gail (India) Ltd. is -11% off from its 52-week high price and 82% above its 52-week low price. The stock belongs to the industry group of Utility-Gas Distribution, which is exhibiting excellent strength in the current market environment. The current industry group rank is 8.

The stock appears on our idea lists: Trend Template – 5 Months.

Natural gas is the cleanest fossil fuel available; It can be transported by first removing all the impurities and liquefied at a-162 Degree centigrade which shrinks its volume 600 times, making it easy for transportation.

Gail Ltd Stock: Engaged in the exploration, processing, transmission, distributing, and marketing of natural gas. Co’s segments are Transmission Svcs, Natural Gas Marketing, Petrochemical, LPG Hydrocarbon, and Others.

Gail has an existing 13,389 Km of gas pipeline network over 20 states with a capacity of 204 MMSCMD, it sells about 52% of its natural gas domestically of which 21% goes to the power sector and about 43% goes for the fertilizer sector. It is the only Co in India to own and operate the LPG transition of 2,033KM of LPG pipeline.

A few Co in the same line of business are Adani Total Gas, Indraprastha Gas, Gujarat Gas, Gujarat State Petronet, and Maharaja Gas.

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