2016 #46 - Charles Nenner Research Center - Weekly India Report - Nov 27, 2016

 

 

Rupee (USD/INR)

 

We have been on the sidelines for the past 2 weeks.

However, daily cycles are now bottoming and will be up until around DEC 12.

A close below 98.16 USD/INR will be a new buy signal for the Rupee.

If triggered, the signal will be canceled on a close above 69 USD/INR.

For long term investors, a monthly close below 66.70 USD/INR will be a long term buy signal.

Our long term upside objective for the Rupee is around 57 USD/INR Based The Rupee is projected to strengthen until the end of next year.

                                                                

CNX NIFTY

Daily cycles are now bottoming again and will be up for the rest of the year.

A close above 8165 will be a new buy signal.

If triggered, the signal will be canceled on a close below 7950.

For long term investors, weekly and monthly cycles are up until FEB 2017.

A weekly close above 8320 will be a new weekly buy signal.

If triggered, the signal will be canceled on a weekly close below 8000.

 

Infosys

The stock closed above 950 and is on a new buy signal, as long as there is no close below 935.

Daily cycles are up until around DEC 23.

Our upside objective is around 1100.

 

Reliance Industries

The stock closed above 1005 and canceled the sell signal given around 1097. We are staying on the sidelines for the moment.

 

State Bank of India

The stock closed below 266 and canceled the buy signal given around 253. We are staying on the sidelines for the moment.

 

Tata Consultancy Services

The stock closed above 2230 and is on a new buy signal, as long as there is no close below 2180.

Daily cycles are up until around DEC 7.

Our upside objective is around 2450.

 

Bharat Heavy Electricals

The sell signal given around 135 continues, as long as there is no close above 129.

However, daily cycles are now bottoming again and will be up until around DEC 22.

A close above 129 will be a new buy signal.

If triggered, the signal will be canceled on a close below 124.

 

ICICI Bank

Daily cycles are now bottoming again and will be up until around DEC 20.

A close above 266 will be a new buy signal.

If triggered, the signal will be canceled on a close below 255.

 

Wipro

The stock closed above 452 and is on a new buy signal, as long as there is no close below 451.

Daily cycles are up until around DEC 7.

Our upside objective is around 510.

 

Hindustan Unilever

The stock is not in sync with cycles.

We are staying on the sidelines for the moment.

 

ITC

Daily cycles are now bottoming again and will be up until around DEC 13.

A close above 231 will be a new buy signal.

If triggered, the signal will be canceled on a close below 222.

 

HDFC Bank

No change since last update.

We are staying on the sidelines for the moment.

 

Larsen & Toubro

The stock is not in sync with cycles.

We are staying on the sidelines for the moment.

 

Tata Motors

We are staying on the sidelines for the moment.

 

Lupin

The stock closed above 1450 and is on a new buy signal, as long as there is no close below 1439.

Daily cycles are up until around DEC 15.

Our upside objective is around 1575.

 

 

© 2016 #46 - Charles Nenner Research Center - Weekly India Report - Nov 27, 2016

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